Friday, October 30, 2020

Fisker Goes Public On NYSE via SPAC

Los Angeles-based electric vehicle developer Fisker Inc. announced Thursday afternoon that it has completed the business combination deal it had with Spartan Energy Acquisition Corp. (SPAQ), a special purpose acquisition company formed by Apollo Global Management, nad will start trading this mroning on the New York Stock Exchange. Fisker says it will commence trading this morning under the ticker symbols FSR, with its warrants trading as FSR WS. The unusual route to public trading has become very popular this year, with multiple special purpose acquisition companies (SPACs) formed to take companies public. Fisker said it hopes to bring its all electric midsize SUV, the Fisker Ocean, to the market by Q4 of 2022.