Spartan Energy Acquisition Corp. announced in a filing Wednesday afternoon that shareholders approved its business combination with electric vehicle maker Fisker Technologies. Fisker expects to have in excess of $1 billion (net of transaction fees and expenses) of cash on the balance sheet and no funded debt. This amount is expected to fully fund Fisker operations and the development of the Fisker Ocean program through the planned start of production in Q4 2022.The combined company will begin trading Oct. 30 on the NYSE. Read more.
Spartan Energy Acquisition Corp. Shareholders Approve Fisker Merger
