Harley-Davidson's EV unit LiveWire poised to debut after SPAC deal

LiveWire

27/09/2022 14:08

** Electric motorcycle brand LiveWire Group Inc  LVWR.N  to
begin trading with ticker "LVWR" on NYSE on Tues after SPAC
merger
    ** Harley-Davidson  HOG.N  and special-purpose acquisition
company (SPAC) AEA-Bridges Impact Corp announce closing of
business combination, which will bring LiveWire $334 mln
 urn:newsml:reuters.com:*:nPnXXYDXa
    ** Harley-Davidson, which retains 74% stake in LiveWire,
said in Dec it would spin off the division in deal valued at
$1.77 bln  urn:newsml:reuters.com:*:nL4N2SY2UY
    ** The SPAC's shares (former ticker "IMPX") closed up 21% at
$9.39 on Mon, rebounding after hitting record low of $7.69 on
Fri
    ** SPACs raise funds and list publicly solely to acquire a
private entity and take it public. Many cos that have completed
SPAC mergers have seen their stocks collapse amid surging
interest rates, extreme market volatility and high shareholder
redemptions
    ** Some high-profile sponsors, including Chamath
Palihapitiya, have wound down their SPACs after failing to
identify suitable targets, while others scrapped planned tie-ups
 urn:newsml:reuters.com:*:nL4N30R36B
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))