Fisker Announces Spartan Energy Merger and NYSE Listing Under SPAQ
Last week there were rumors going around that Spartan Energy Acquisition Corp. was looking to merge with Fisker and give them a “blank check” to bring the Fisker Ocean SUV to market. Today, we have found out those plans are going forward.
Henrik Fisker tweeted the news this morning, saying “Fisker becoming a publicly listed company! Today we announced a merger with Spartan Energy Acquisition Corp.”
The company plans to sell their upcoming car in 2022, which is very reasonable for an EV timeline. Considering the other startups in the electric vehicle space, and their aggressive plans, Fisker’s listing via SPAQ actually represents a solid investment opportunity.
Their stock jumped up over %100 to a high of $21.60 a share on Monday. They details of the deal point towards a $2.9 billion equity value for Fisker via a reverse merger. That should raise Fisker over $1 billion in funds to bring the Ocean to market.
Previously, Fisker’s Karma was a car/company that went bankrupt in 2013. Since then, Karma was bought up by a Chinese firm. Now they still sell the Karma Revero, just without the man who designed it.
Fisker’s tenacity towards bringing beautiful cars to market, combined with his actual real-world experience in design, and working prototypes, makes this much more compelling than say… Nikola.