Gores Guggenheim said it scheduled a June 22 meeting for shareholders to vote on the proposed acquisition of EV maker Polestar. The SPAC’s registration statement on the deal was declared effective by the SEC.
The SPAC in April pushed the megadeal’s termination date to June 24 from the initial May 27 deadline.
Since the deal was announced in September, the SPAC has added another $163.2 million to the original $250 million PIPE. Terms of the merger also call for Polestar to receive the approximately $800 million in the Gores Guggenheim trust, less any redemptions.
Gores Guggenheim warrant holders will also meet June 22 to vote on an amendment to the existing warrant agreement that governs the public warrants. The amendment would convert warrants to newly issued Class C shares of the combined company, if the merger is approved. Read more.
