Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 203

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 203
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 were issued with no par value.

Closing of the merger with GGI

Between January 1, 2022, and prior to the Closing of the merger with GGI, there were no events impacting the Group’s equity other than the issuance of 50,000British Pound Sterling (“GBP”) Redeemable Preferred Shares in the Parent with a par value of GBP 1.00, equivalent to $ 65, to the Former Parent. This issuance was part of Parent’s incorporation in the United Kingdom as a subsidiary of the Former Parent in preparation for the Closing of the merger with GGI. These shares were subsequently reclassified to Share capital when the Former Parent was separated from the Group at Closing.

In connection with the Closing of the merger with GGI and the removal of the Former Parent (Polestar Automotive Holding Limited) from the Group:

• 197,026,729Class A Shares were exchanged at a ratio of 1: 8.335for 1,642,233,575Class B Shares;

• 35,377,866Class B Shares were exchanged at a ratio of 1: 8.335for 294,877,349Class A Shares;

• 4,306,466Class A Shares were issued to holders of the Convertible Notes;

• 26,540,835Class A Shares were issued to the PIPE investors;

• 82,193,962Class A Shares were issued to the former shareholders of GGI; and

• 58,882,610Preference Shares were issued to Volvo Cars which subsequently converted into 58,882,610Class A Shares.

Refer to Note 1 - Significant accounting policies and judgements and Note 18 - Reverse recapitalization for more details on the merger with GGI.

Post-closing of the merger with GGI

Following the merger with GGI, 174,075and 501,451Class A Shares were issued to employees of the Group as of December 31, 2023 and 2022 under the Omnibus Plan, respectively. 125,000and 375,000Class A Shares were issued in exchange for marketing services as of December 31, 2023, and 2022, respectively. Refer to Note 8 - Share-based payment for additional details. As of December 31, 2023, there were an additional 4,532,023,252Class A Shares and 135,133,164Class B Shares with par values of $ 0.01authorized for