Harley EV unit LiveWire's shares jump in debut after $1.8 bln SPAC merger (updated)

Livewire Ergogenics

27/09/2022 14:48

(Updates shares, adds background)
       Sept 27 (Reuters) - Shares of LiveWire, the electric
motorcycle subsidiary of Harley-Davidson Inc  HOG.N , jumped as
much as 24% in their U.S. market debut on Tuesday following the
unit's $1.77 billion merger with a blank-check firm.  
        The backdoor listing makes LiveWire as the first and
only EV motorcycle company in the United States to debut on the
New York Stock Exchange.
    Last year, the EV unit agreed to merge with special purpose
acquisition company AEA-Bridges Impact Corp  IMPX.N .
    The surge in shares comes amid dampening sentiment over SPAC
mergers. Shares of companies that have completed SPAC mergers
have fallen sharply this year amid surging interest rates,
extreme market volatility and high shareholder redemptions.     
    LiveWire, launched in 2021, has one EV bike model priced
beginning $16,999 and another one at $22,799, as majority owner
Harley hopes to claw back lost market share and attract young
and environmentally conscious urban riders.
  
 (Reporting by Aishwarya Nair in Bengaluru; Editing by Maju
Samuel)
 ((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))