Overview
- Feathertop Funding Limited will provide $400 million in equity, with $200 million each from Sumitomo Mitsui Banking Corporation and Standard Chartered, priced at $19.34 per Class A ADS.
- Put-option agreements with a Geely Sweden Holdings subsidiary offer the investors a defined exit after three years.
- Each bank will hold less than 10% of Polestar’s outstanding equity once the transaction closes.
- Polestar expects the deal to close by February 5, 2026, following similar terms used in the December financing.
- The new capital follows December support that included $300 million from BBVA and Natixis and a loan facility of up to $600 million from Geely Holding, as the company works through liquidity and covenant challenges.