Hyperdrive
Harley’s Green CEO Seizes on SPAC Craze to Speed Electrification
- New company to have enterprise value of about $1.77 billion
- LiveWire to be first U.S. public electric-motorcycle company
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Harley-Davidson Inc. is seizing on investor appetite for EV upstarts by listing its electric-motorcycle unit through a reverse merger, furthering Chief Executive Officer Jochen Zeitz’s ambition to make the manufacturer a leader in the electric revolution.
LiveWire, a stand-alone division Harley created earlier this year, will merge with special purpose acquisition company AEA-Bridges Impact Corp. in a transaction valuing the combined entity at $1.77 billion, the companies said Monday. LiveWire would reap net proceeds of about $545 million from the deal, and Harley would retain a 74% stake.