Overview
- Polestar confirmed a 30-to-1 reverse split of its ADSs, to be completed before the end of 2025, to address Nasdaq’s $1 minimum bid rule.
- The stock closed at $0.53 on Friday after touching fresh lows, following a formal Nasdaq notice about noncompliance with the bid-price requirement.
- The company said no fractional ADSs will be issued in the reverse split process.
- Third-quarter results showed revenue of $748 million, up 36% year over year, alongside a larger net loss of $365 million.
- Polestar says it is making progress on new equity and debt financing with Geely’s support, and it plans to provide updated full-year guidance in early 2026 after withdrawing its 2025 outlook.