Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 79

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 3
Chunk 79
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� C-1 ADSs and provided certain other conditions are met. Polestar will not redeem the Class  C-1 ADSs unless an effective registration statement under the Securities Act covering the issuance of the Class  A ADSs issuable upon exercise of the Class  C-1 ADSs is effective and a current prospectus relating to those Class  C-1 ADSs is available throughout the 30-day redemption period, except if the Class  C-1 ADSs may be exercised on a cashless basis and such cashless exercise is exempt from registration under the Securities Act. If and when the Class  C-1 ADSs become redeemable by Polestar, Polestar may exercise its redemption right even if Polestar is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of the outstanding Class  C-1 ADSs could force the holders of such Class  C-1 ADSs: (i) to exercise their Class  C-1 ADSs and pay the exercise price therefor at a time when it may be disadvantageous for them to do so; (ii) to sell their Class  C-1 ADSs at the then-current market price when they might otherwise wish to hold their Class  C-1 ADSs; or (iii) to accept the nominal redemption price which, at the time the outstanding Class  C-1 ADSs are called for redemption, is likely to be substantially less than the market value of their Class  C-1 ADSs. Additionally, if a significant number of holders of Class  C-1 ADSs exercise their Class  C-1 ADSs instead of accepting the nominal redemption price, the issuance of these Class  A ADSs would dilute other equity holders, which could reduce the market price of Class  A ADSs. As of the date of this Report, the Class  A ADSs have never traded above $18.00 per share.

In addition, Polestar may redeem Class  C-1 ADSs for a number of Class  A ADSs determined based on the redemption date and the fair market value of Class  A ADSs, starting at a trading price of $10.00. Any such redemption may have similar consequences to a cash redemption described above. In addition, such redemption may occur at a time when the Class  C-1 ADSs are “out