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Monday, 07/13/2020 8:34:07 AM

Monday, July 13, 2020 8:34:07 AM

Post# of 7
And it’s done!!!

Fisker Inc. To List On NYSE Through Merger With Apollo Affiliated Spartan Energy Acquisition Corp.

Source: PR Newswire (US)
- Transaction to provide more than $1 billion of gross proceeds to the company, including $500 million fully committed common stock PIPE at $10.00 per share anchored by existing and new investors – including Moore Strategic Ventures, AllianceBernstein, funds and accounts managed by BlackRock and Federated Hermes Kaufmann

- Proceeds to fully fund the development of the all-electric Fisker Ocean through start of production in 2022

- Pro forma equity value of the merger is approximately $2.9 billion, at the $10.00 per share PIPE price and assuming minimal Spartan shareholder redemptions

- Combined company Board of Directors will be comprised of existing Fisker Board members and an Apollo designee

- Transaction advances on Fisker's mission of creating the world's most emotional and sustainable vehicles – and upholds its vision of a clean future for all