Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 80

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 3
Chunk 80
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-of-the-money,” in which case holders of Class  C-1 ADSs would lose any potential embedded value from a subsequent increase in the value of the Class  A ADSs had such holders’ Class  C-1 ADSs remained outstanding. None of the Class  C-2 ADSs will be redeemable by Polestar (except as set forth in the Polestar Articles) so long as they are held by the GGI Sponsor or its permitted transferees. The Class  A ADSs currently trade below $10.00.

In the event Polestar elects to redeem the outstanding Class  C-1 ADSs, Polestar will fix a date for the redemption (the “Class  C Redemption Date”) and provide notice of the redemption to be mailed by first class mail, postage prepaid by Polestar not less than 30 days prior to the Class  C Redemption Date to the registered holders of the Class  C-1 ADSs (who will, in turn, notify the beneficial holders thereof). For addition information regarding the Class  C-2 ADSs and the Class  C-1 ADSs, please see the applicable sections in the Polestar Articles.

Polestar may issue additional equity securities or convertible debt securities without the approval of the holders of the ADSs, which would dilute ownership interests and may depress the market price of the ADSs.

Polestar will continue to require significant capital investment to support its business, and Polestar may issue equity securities or convertible debt securities of equal or senior rank in the future without approval of the holders of the ADSs in certain circumstances. Additionally, the shareholder loan facility between Polestar and each of Snita and Geely give Snita and Geely the option to convert borrowings under such facilities into equity upon certain financing events. Any such conversion would result in a dilution to our existing ADSs holders,

Polestar’s issuance of additional equity securities or convertible debt securities of equal or senior rank may have the following effects: (i)  Polestar’s shareholders’ proportionate ownership interest in Polestar may decrease; (ii) the amount of cash available per share, including for payment of dividends in the future, may decrease; (iii) the relative voting power of each previously outstanding Class  A ADS may be diminished; and (iv) the market price of ADSs may decline.

Furthermore, certain employees of Polestar and its subsidiaries have been granted equity