US EditionEV Maker Polestar Secures $400 Million Equity Funding
Sumitomo Mitsui and Standard Chartered each invested $200 million with a three-year put option to sell shares, enhancing Polestar's liquidity and financial health.
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7 Articles
Geely-Backed Polestar Announces $400 Million In Funding Via Special Purpose Vehicle - Polestar Automotive (NASDAQ:PSNY)
Geely Automobile Holdings Ltd.-backed (OTC:GELYF) (OTC:GELHY) Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has secured over $400 million in funding through a Special Purpose Vehicle (SPV). Sumimoto Mitsui, Standard Chartered Funded Polestar The Swedish automaker, in an official statement on Monday, announced that Sumimoto Mitsui Banking Corp., as well as Standard Chartered Bank Ltd. (Hong Kong), invested $200 million each via Feathertop Fund…
Polestar Secures $400 Million in Second Lifeline Since December
Polestar said Monday it has secured a $400 million equity investment from two financial institutions, providing another lifeline for the struggling EV maker as it works to shore up its finances. The investment comes from Feathertop Funding Limited, a special purpose vehicle consolidated to Sumitomo Mitsui Banking Corporation, and the Hong Kong subsidiary of the British bank Standard Chartered Bank (Hong Kong) Limited, with $200 million each. Pol…
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