Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 78

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 3
Chunk 78
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 dilution to then existing Company shareholders and increase the number of AD securities eligible for resale in the public market. Sales of substantial numbers of such shares in the public market could adversely affect the market price of Class  A ADSs.

There is no guarantee that the Class  C ADSs will ever be in the money, and they may expire worthless.

The exercise price for the Class  C ADSs is $11.50 per Class  C ADS (excluding any fees due to the depository in connection with the conversion of the Class  C ADSs and the issuance of the Class  A ADSs). There is no guarantee that the Class  C ADS will ever be in the money prior to their expiration, and as such, the Class  C ADSs may expire worthless.

Polestar may amend the terms of the Class  C ADSs in a manner that may be adverse to holders. As a result, the exercise price of your Class  C ADSs could be increased, the exercise period could be shortened and the number of Class  A ADSs purchasable upon exercise of a Class  C ADS could be decreased, all without your approval. With respect to the Class  C-1 ADSs, in accordance with the U. K. Companies Act 2006 (the “Companies Act”) and the Polestar Articles, such amendment would require (i) in order to amend the relevant provisions in the Polestar Articles, a special resolution (requiring approval by at least 75% of members entitled to vote at a meeting of members of Polestar) and (ii) written consent to such amendment by holders of at least 75% of the then-outstanding Class  C-1 ADSs.

Polestar may redeem unexpired Class  C-1 ADSs prior to their exercise at a time that is disadvantageous to holders, thereby making their Class  C-1 ADSs worthless.

Polestar has the ability to redeem outstanding Class  C-1 ADSs at any time prior to their expiration, at a price of $0.01 per Class  C-1 ADS; provided that the last reported sales price of Class  A ADSs equals or exceeds $18.00 per share for any 20 trading days within a 30 trading-day period ending on the third trading day prior to the date on which Polestar gives proper notice of such redemption to the holders of Class�