- Fisker to invest $10 million into PIPE supporting the planned
merger of Allego with Spartan Acquisition Corp III
- Pro forma equity value of the merger is approximately $3.14
billion, at the $10.00 per share PIPE price, and assuming minimal
Spartan shareholder redemptions
- Allego has more than 26,000 public EV charging ports across
12,000 public and private locations in 12 European countries – with
leading utilization rates and a substantial recurring user base, as
well as a secured backlog of 500 premium sites
- Fisker to partner with Allego on specific period free charging
offer for its customers in Europe
Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the
world's most sustainable electric vehicles and advanced mobility
solutions – today announced it will make a $10 million private
investment in public equity (PIPE) supporting the planned merger of
leading European EV charging network, Allego B.V. (“Allego”) with
Spartan Acquisition Corp. III (NYSE: SPAQ), a publicly-listed
special purpose acquisition company. Fisker is the exclusive
electric vehicle automaker in the PIPE and, in parallel, has agreed
to terms on a strategic partnership to deliver a range of charging
options for its customers in Europe.
"Allego has been a long-standing pioneer in the push to create a
seamless pan-European electric vehicle charging network," said
Fisker Chairman and CEO, Henrik Fisker. "Our investment in the PIPE
is motivated by strategic and tactical considerations, ensuring we
have a stake in the future of EV charging networks while delivering
tangible benefits to our customers."
Through the Fisker-Allego partnership announced today, the two
companies are collaborating on offering electric vehicle charging
and related services across multiple European markets. Included in
that partnership is the provision that fleet and private customers
buying or leasing a Fisker Ocean SUV between Jan. 1, 2023 and March
31, 2024 will benefit from one year of free charging (from original
date of registration) on the Allego network. Further, the two
companies are working on future plans to deliver a seamless
charging experience for Fisker customers using the Allego ‘Plug
& Charge’ service that utilizes the Allego Fast and Ultra-Fast
charger network.
“Having Fisker both invest in our PIPE, and at the same time
form a commercial partnership is a significant vote of confidence
in our growth plans,” said Mathieu Bonnet, CEO of Allego. “Both
Fisker and Allego have a common connection through the 'Spartan'
franchise of SPACs sponsored by funds managed by affiliates of
Apollo Global Management, and I want to recognize the leadership of
Geoffrey Strong and his team at Spartan who are constantly creating
new investment opportunities across the clean mobility sector.”
Founded in 2013, Allego is a leading EV charging network in
Europe and has deployed more than 26,000 charging ports across
12,000 public and private locations, spanning 12 European
countries. Allego’s charging network includes fast, ultra-fast and
AC charging solutions delivered through either owned or operated
public charging networks, in addition to charging solutions for B2B
customers. Allego has developed a rich portfolio of partnerships
with strategic partners including municipalities, more than 50 real
estate owners and more than 15 automakers.
Fisker intends to start production and deliveries on its first
vehicle, the Ocean electric SUV, from Nov. 17, 2022 – and unveil a
production-intent prototype at the LA Auto Show® later this year.
The Fisker Ocean will enter the U.S. market at a starting MSRP of
$37,499 (excluding EV-related subsidies) and below €32,000 in
Germany (including taxes and EV-related subsidies). Including fleet
orders from companies such as Credit Agricole Consumer Finance,
Onto and Viggo, Fisker has more than 62,000 hand-raisers and 17,300
paid reservations for the Ocean.
“With this new funding, we are confident that Allego will be
well equipped to introduce the most advanced charging technologies,
continue to expand their network and be able to deliver a seamless
charging experience for our customers,” added Mr. Fisker.
For more information or interview inquiries, contact
Fisker@GoDRIVEN360.com.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive
industry by developing the most emotionally desirable and
eco-friendly electric vehicles on Earth. Passionately driven by a
vision of a clean future for all, the company is on a mission to
become the No. 1 e-mobility service provider with the world's most
sustainable vehicles. To learn more, visit www.FiskerInc.com – and
enjoy exclusive content across Fisker's social media channels:
Facebook, Instagram, Twitter, YouTube and LinkedIn.
Download the revolutionary new Fisker mobile app from the App
Store or Google Play store.
About Allego Allego delivers
charging solutions for electric cars, motors, buses and trucks, for
consumers, businesses and cities. Allego’s end-to-end charging
solutions make it easier for businesses and cities to deliver the
infrastructure drivers need, while the scalability of our solutions
makes us the partner of the future. Founded in 2013, Allego is a
leader in charging solutions, with an international charging
network comprised of more than 26,000 charge points operational
throughout Europe – and growing rapidly. Our charging solutions are
connected to our proprietary platform, EV-Cloud, which gives us and
our customers a full portfolio of features and services to meet and
exceed market demands. We are committed to providing independent,
reliable and safe charging solutions, agnostic of vehicle model or
network affiliation. At Allego, we strive every day to make EV
charging easier, more convenient and more enjoyable for all.
Forward-Looking Statements This press release includes
forward-looking statements, which are subject to the "safe harbor"
provisions of the US Private Securities Litigation Reform Act of
1995. These statements may be identified by words such as "feel,"
"believes," expects," "estimates," "projects," "intends," "should,"
"is to be," or the negative of such terms, or other comparable
terminology and include, among other things, the quotations of our
Chief Executive Officer and statements regarding the planned start
of production and MSRP of the Ocean, the Company's future
performance and other future events that involve risks and
uncertainties. Such forward-looking statements are not guarantees
of future performance and are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein due to many factors,
including, but not limited to: Fisker's limited operating history;
Fisker's ability to enter into additional manufacturing and other
contracts with Magna, or other OEMs or tier-one suppliers in order
to execute on its business plan; the risk that OEM and supply
partners do not meet agreed upon timelines or experience capacity
constraints; Fisker may experience significant delays in the
design, manufacture, regulatory approval, launch and financing of
its vehicles; Fisker's ability to execute its business model,
including market acceptance of its planned products and services;
Fisker's inability to retain key personnel and to hire additional
personnel; competition in the electric vehicle market; Fisker's
inability to develop a sales distribution network; and the ability
to protect its intellectual property rights; and those factors
discussed in Fisker's Annual Report on Form 10-K, as amended, under
the heading "Risk Factors," filed with the Securities and Exchange
Commission (the "SEC"), as supplemented by Quarterly Reports on
Form 10-Q, and other reports and documents Fisker files from time
to time with the SEC. Any forward-looking statements speak only as
of the date on which they are made, and Fisker undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210728005504/en/
Simon Sproule, SVP, Communications 310.374.6177 |
Fisker@DRIVEN360.com Rebecca Lindland, Director, Communications
rlindland@fiskerinc.com Dan Galves, VP, Investor Relations
dgalves@fiskerinc.com / FiskerIR@icrinc.com
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