Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 393

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 393
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 cost of shares issued by Polestar 1                             1,131,375  
  GGI identifiable net assets at fair value                             ( 522,106)  
  Sponsor and third-party PIPE Cash                                     ( 236,951)  
  IFRS 2 Listing Expense                                                         $  

1 - The deemed cost of the shares issued by Polestar was estimated based on the fair value of Polestar at Closing, less an adjustment in respect to the fair value of the earn-out rights (discussed below).

Class C Shares

On the Closing of the BCA, Public Warrants and Private Warrants in GGI that were issued and are outstanding immediately prior to the Closing were exchanged for Class C-1 Shares and Class C-2 Shares in Parent. Class C-1 Shares have the following terms:

• Each whole Class C-1 Share entitles the holder to purchase one 11.50

F-50

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• Each whole Class C-1 Share is exercisable 30

◦June 23, 2027,

◦ the date the Class C-1 Shares are redeemed by the Group, or

◦ the liquidation of the Group.

• The Group may (1) redeem the outstanding whole Class C-1 Shares at a price of $ 0.01 30 18 20 30

• The Group may require the conversion of all of the outstanding Class C-1 Shares into Class A Shares in Parent on a cashless basis beginning on October 24, 2022, provided:

◦ that the last reported price of the Class A Shares in Parent was at least $ 10.00

◦ the Class C-2 Shares are converted on the same basis as the outstanding Class C-1 Shares, and

◦ there is an effective registration statement covering the Class A Shares in Parent arising upon conversion of the Class C Shares is available for 30

• The Class C-1 Shares may be exercised, on a cash or cashless basis at any time after a notice of redemption shall have been given by the Group and prior to the date the Class C-1 Shares are redeemed by the Group.

The Class C-2 Shares are identical to the Class C-1 Shares, except that the Class C-2 Shares:

• are not redeemable by the Group as long as they are held by certain GGI investors and their permitted transferees;

• automatically convert to Class C-1 Shares if they are transferred to individuals other