Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 325

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 325
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 Parent”), Polestar Automotive (Singapore) Pte. Ltd., a private company limited by shares in Singapore (“ Polestar Singapore”), Polestar Holding AB, a private limited liability company incorporated under the laws of Sweden (“ Polestar Sweden”), Polestar Automotive Holding UK Limited, a 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.

• the Convertible Notes of the Former Parent outstanding immediately prior to the Closing were automatically converted into 4,306,466

• the Former Parent was separated from Polestar Group and issued 294,877,349 1,642,233,575

• all GGI units outstanding immediately prior to the Closing held by GGI Stockholders were automatically separated and the holder was deemed to hold one

• all GGI Class A Common Stock issued and outstanding, other than those held in treasury, were exchanged for 63,734,797

• all GGI Class F Common Stock issued and outstanding, other than those held in treasury, were exchanged for 18,459,165

• 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 15,999,965

• all GGI Private Warrants issued and outstanding immediately prior to the Closing were exchanged for 9,000,000

• pursuant to the PIPE Subscription Agreements, third-party investors purchased 25,423,445 1,117,390 26,540,835 250,000

• pursuant to the Volvo Cars Preference Subscription Agreement, Volvo Cars purchased 58,882,610 588,826

The merger with GGI, including all related arrangements, raised net cash proceeds of $ 1,417,973 638,197 250,000 588,826

F-10

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Preference Subscription Agreement. Polestar incurred total transaction costs of