Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 123

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 123
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 limited company incorporated under the laws of England and Wales and a direct wholly owned subsidiary of the Former Parent, and PAH UK Merger Sub Inc., a Delaware corporate and a direct wholly owned subsidiary of the Parent (“US Merger Sub”).

On June 23, 2022 (“Closing”), the Former Parent consummated a reverse recapitalization pursuant to the terms and conditions of the BCA. At the Closing, Polestar Holding AB and its subsidiaries became wholly owned subsidiaries of Parent. US Merger Sub merged with GGI, pursuant to which the separate corporate existence of US Merger Sub ceased and GGI became a wholly owned subsidiary of the Parent.Simultaneously, the following events occurred:

• the Convertible Notes of the Former Parent outstanding immediately prior to the Closing were automatically converted into 4,306,466Class A Shares in the Parent in the form of American depositary shares;

• the Former Parent was separated from Polestar Group and issued 294,877,349Class A Shares in the Parent in the form of American depositary shares, 1,642,233,575Class B Shares in the Parent in the form of American depositary shares, and the right to receive an earn out of a variable number of additional Class A Shares and Class B Shares, depending on the daily volume weighted average price of Class A Shares in the future;

• all GGI units outstanding immediately prior to the Closing held by GGI Stockholders were automatically separated and the holder was deemed to hold oneshare of GGI Class A Common Stock and one-fifth of a GGI Public Warrant;

• all GGI Class A Common Stock issued and outstanding, other than those held in treasury, were exchanged for 63,734,797Class A Shares in the Parent in the form of American depositary shares;

• all GGI Class F Common Stock issued and outstanding, other than those held in treasury, were exchanged for 18,459,165Class A Shares in the Parent in the form of American depositary shares;

• all GGI Common Stock held in treasury were canceled and extinguished without consideration;

• all GGI Public Warrants issued and outstanding immediately prior to the Closing were exchanged for 15,999,965Class C-1 Shares in the Parent in the form of American depositary shares with effectively the same terms as the GGI Public Warrants and are exercisable for Class A Shares in the Parent;

• all GGI Private Warrants issued and outstanding immediately prior to the Closing were exchanged for