ggpi merger announcement

Since the Swedish electric vehicle (EV) manufacturer announced its merger with the special purpose acquisition company (SPAC) on Sept. 27, GGPI stock has gained about 14% or so. quotes delayed at least 15 minutes, all others at least 20 minutes. Polestar has been developing electric vehicles since 2017, the latest of which is a performance roadster. Accumulated other comprehensive incom Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.monteverdelaw.com/case/gores-guggenheim-inc, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Adamis Pharmaceuticals Corp. - ADMP, SHAREHOLDER ALERT: The M&A Class Action Firm Announces the Investigation of Ranger Oil Corp. - ROCC. The technology is used widely in the vacation rental industry. AONs Aria Glasgow on Managing ESG and Human Capital Risk, Korn Ferrys Anthony Goodman on the Importance of Board Evaluations, Podcast: Getaround CEO Sam Zaid on Carsharing and Going Public, What to Know about Universal Proxy with Bruce Goldfarb of Okapi Partners, Podcast: Li-Cycles (LICY) Ajay Kochhar on Lithium Ion Battery Recycling and EVs, SPAC Podcast: Alliance Entertainment & Adara Acquisition. Establishing itself in the European market, it could see tremendous growth as it enters the U.S. market. At least 73 SPACs that had planned to go public this year have since been canceled due to deteriorating market conditions. Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. It will also have a more daring design,, The CEO came out and said Polestar wasnt going to be, As I stated in January, I think GGPI stock soon to be. Defends Financial Benefits of IAA Deal. Copyright 2023 MarketWatch, Inc. All rights reserved. Press J to jump to the feed. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Today's announcement is a significant catalyst as investor anticipation intensifies toward an announced merger vote date. Its beginning dates back to. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. An alternative to Tesla. proporcionarte nuestros sitios y aplicaciones; autenticar usuarios, aplicar medidas de seguridad y evitar el spam y los abusos, y. medir el uso que haces de nuestros sitios y aplicaciones. Inc. ("GGPI" or the "Company") (GGPI)a special purpose acquisition company, relating to the proposed merger with Polestar Automotive Holding Limited. Decembers SPAC market review takes a look by the numbers of the months SPAC activity and how the market currently stands going into 2023. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our, Stock Prodigy Who Found NIO at $2 Says Buy THIS. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. We want to hear from you. Its beginning dates back to 1996. On May 25, the blank-check company formally announced the date on which shareholders will vote to approve the transaction (June 22). Attorney Advertising. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. The company is an established EV maker outside the U.S. but not headquartered in China. What's next for bonds in 2023 after the worst year in history, It broke me: Everyone says you need power of attorney, but nobody tells you how hard it is to use. Now, with volatility likely to continue into 2022, some possible alternatives exist as a short-term solution for risk-averse EV investors. PSQ Holdings is a marketplace that connects who it describes as "freedom-loving" Americans. Comprehensive research and analytics on every SPAC, sponsor, and deal. However, of the two, GELYY stock volumes are a little higher. Amidst a proxy fight with Trian, Walt Disney Co. (DIS) announced that it will cut ~7k jobs as part of a $5.5B cost savings plan. Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Im a big believer in Alec Gores, the chairman behind this SPAC. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. The industry leader for online information for tax, accounting and finance professionals. Place to discuss GGPI and Polestar. Thats well above where it currently trades under the $11.50 level. It is the biggest blank-check merger in the EV sector since Lucid Motors struck a $24-billion deal with Michael Klein's Churchill Capital IV Corp. in February. [I]f a stock is destined to be a long-term winner (five to 10 years out), there is no rush to run out and buy it. However, I also said that investors need not rush to buy the SPAC before the merger happens. The merger between Polestar and Gores Guggenheim (NASDAQ:GGPI) is expected to happen in the first half of 2022. Deal Announcement for ISAA /HYPEBEAST . We continue to like Polestars long term outlook and view the company as an emerging contender in the EV space. files S-4 for merger with Blade Therapeutics (BBTX). The opinions expressed in this article are those of the writer, subject to the, Gores Guggenheim Is a Buy, But Consider an Alternative in the Short Term, Biden Hears Oval Office Plea for Alaska Oil Project in Lobbying Frenzy, Apple tops ranking of global companies with the most 'green' revenue, UPDATE 2-North Korea says UN should demand end to S.Korea-US military drills, US Treasury puts cost of outbound investment risk program at $10 million, US Jobs Report and Powell Testimony Take Center Stage: Eco Week. Heres what investors should know moving forward. Create your Watchlist to save your favorite quotes on Nasdaq.com. Theres even room for more lines. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors. That said, I suppose you could also argue that GGPI will move significantly higher once its trading under its new symbol, PSNY. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. Nevertheless, even as EV stock mania has waned, the EV trend isnt going away. In what stands to be a pivotal year for the future of the market, we recap January. That said, unlike LCID, which was a pre-revenue, pre-production company, Polestar is very much established, having met its production target of 29,000 cars in 2021. Its anyones guess when exactly EV stocks will take off again. "We don't need the capital to build the factory. Assuming it hits its growth targets, delivering a six-figure amount of vehicles annually, and generating tens of billions in annual sales, within three years. All rights reserved. The premium EV maker's offering includes two models: a hybrid car known as Polestar 1 and a fully electric Polestar 2. Second, it currently trades at an attractive valuation relative to its prospects. At the time of this writing, the stock is down 2.83% on the day, closing in on $11. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset. The factors still affecting EV stock performance could carry on in the months ahead. Matterport merged with Gores Holdings VI back in July and Gores brought $310 million in cash to the deal after redemptions. It was established to help Volvo win the Swedish Touring Car Championship. Visit a quote page and your recently viewed tickers will be displayed here. The Gravity performance luxury SUV is expected to come to market in North America in 2023. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Press question mark to learn the rest of the keyboard shortcuts. This announcement comes alongside ongoing Over-The-Air (OTA) updates that are delivering new features to Polestar 2 owners and pre-empts a future option to purchase a performance software upgrade that adds an extra 67-hp for the dual-motor variant. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. GGPI shares have been trading in a steady ~$11 range prior to day's announcement (shares are up 8% intraday). Para obtener ms informacin sobre cmo utilizamos tus datos personales, consulta nuestra Poltica de privacidad y Poltica de cookies. Is GGPI a buy now in 2021? GGPI shares starting to regain momentum ahead of merger vote. The deal announcement stated it would close before June 30, 2022. Polestar itself is a joint venture between Volvo (OTCMKTS:VLVLY) and Geely (OTCMKTS:GELYY). The funding will be used to. However, at one point in mid-November, GGPI stock was trading as high as $16.41. SPAC Merger. Even as the Polestar deal, which shareholders will vote to approve later this month, is on the verge of closing. However, if you own Gores Guggenheim (NASDAQ:GGPI) stock, one sentence by Ingenlath stands out in a good way. (C) 2021 Monteverde & Associates PC. The technical storage or access that is used exclusively for anonymous statistical purposes. He has also been selected by Martindale-Hubbell as a 2017-2021 Top Rated Lawyer. Its opening more of them anyway. Not bad, given that, if it grows as expected, itll generate $17.6 billion in annual sales by 2025. The fact that the company is moving close to 30,000 units this. GGPI Stock Heats Up as Polestar SPAC Merger Closes, Do Not Sell My Personal Information (CA Residents Only). For 2022 and 2023, Polestar has guided to $3.2 B and $6.7B in sales, respectively. with the special purpose acquisition company (SPAC) on Sept. 27, GGPI stock has gained about 14% or so. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. The deal comes at a time when large SPAC mergers have become rare, as the business of blank-check dealmaking deteriorated rapidly over the summer after investors were spooked by the poor financial performance of many SPACs and a regulatory crackdown led by the U.S. Securities and Exchange Commission over their disclosures. In 2015, Volvo acquired Polestars high-performance business. The post GGPI Stock Heats Up as Polestar SPAC Merger Closes appeared first on InvestorPlace. If you havent bought it, thats great news because you still have time to get in before GGPI takes off post-merger. This relationship gives Polestar access to manufacturing in Chinas as well as facilities in Europe and the U.S. Geely has a 2022 target of 1.65 million vehicles. In a media statement, Gores Guggenheim confirmed that its shareholders voted to approve the combination with Polestar which will bring the European EV maker to the public market. Click here for more information: https://www.monteverdelaw.com/case/gores-guggenheim-inc. Once the reverse merger is finalized, shares of Polestar will begin trading on the Nasdaq tomorrow under the PSNY ticker symbol. I also said that, at these prices, GGPI stock would seem like a steal in a few years. Supply chain headwinds, which have resulted in EV makers walking back revenue and delivery targets, have played a role as well. If youre investing in AI stocks, watch out for these revenue and earnings tricks, After loss against Meta, Lina Khans ability to rein in Big Tech with the FTC is being questioned, Veris Residential and Rogers Stock See Action From Activist Investors, The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability: Prices fell the most in these U.S. states, Am I crazy? After my mother died, my cousin took her designer purse, and my aunt took 8 paintings from her home then things really escalated. Objective, data-driven assessments for every public company director and officer. . The post Keep an Eye on Gores Guggenheim Stock, as it Gears Up for its EV Merger appeared first on InvestorPlace. As I stated in January, I think GGPI stock soon to be PSNY once the merger is completed is an excellent long-term buy, primarily because it already has sold 29,000 vehicles (2021), it. BA sits down with Aria Glasgow, Head of ESG Advisory at Aon, to discuss the intersection ESG and Human Capital and the risk for corporates. 2023 CNBC LLC. Prior to merger deal announcements, SPAC stocks tend to stay close to $10 a share. Barring unforeseen developments, Polestar ought to deliver considerable wealth to its patient shareholders in the future.. once the merger is completed is an excellent long-term buy, primarily because it already has sold 29,000 vehicles (2021), it expects to produce 65,000 in 2022 and 290,000 annually by 2025. Our 3 Top Picks. EV maker Polestar going public via a SPAC with Gores Guggenheim. Copyright Rubicon Technologies (RBT) CEO Jevan Anderson resigned, Marblegate is merging with itself, and the rest of the days digest. GGPI / Polestar trades higher on HTZ deal . Salesforce Inc. (CRM) surges after hours following earnings amidst potential activist activity and todays SPAC, IPO, and Exec News. Aug. 17 2021, Published 3:11 p.m. Bruce Ogilvie and Jeff Walker discuss Alliance Entertainment going public via Adara Acquisition Corp. (ADRA). As background, Polestar is jointly owned by Volvo and its parent company Chinese OEM Geely (GELYY). On the date of publication, neither LouisNavellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

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