Polestar announces new equity financing of $300M

Polestar (PSNY) announced a total of $300M in equity investments by purchasers including Credit Agricole CIB, Vida Finance, Innovator Limited and Proximastar Holdings. Concurrent with the purchase, these purchasers have each entered into a put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB, which provides the purchasers with an exit path, if needed, in three years with certain returns, as part of this equity financing arrangement. The terms are similar to the equity financing arrangements announced by the company in December 2025 and February. Following the closing of the transaction, none of the purchasers will own more than 5% of Polestar’s outstanding equity. The price per Class A to be purchased at the closing will be $19.34, which is the same price as in the equity financings in December 2025 and February. The purchasers will not have any restrictions on the sale of the Class A ADSs they receive, subject to any applicable securities laws. The transactions are expected to close by March 19 as no regulatory approvals are required.