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London’s Tulchan Communications is handling Sweden’s Polestar as the pure-play electric performance car company plans to go public in a SPAC deal valued in the $20B range.
Founded in 2017 by Volvo Cars and its parent company Zhejiang Geely Holding of China, Polestar delivered 10K cars in 2020 and expects to produce 290K vehicles a year by 2024. The company will roll out its first SUV model next year.
CEO Thomas Ingenlath said the SPAC formed by Gores Group and Guggenheim Partners will position Polestar as a financially strong, future proof and global electric car company on the mission towards sustainable mobility.
Shares of Polestar Automotive Holding UK Limited will trade on the NASDAQ under the symbol PSNY. Leonardo DiCaprio is among investors in the company.
Tulchan’s Simon Pilkington and Harry Cameron represent Polestar.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
