Monday, November 9, 2020

Fisker Automotive In Virtual Bell Ringing At NYSE

Los Angeles-based electric car maker Fisker Automotive is doing a "virtual" ringing of the opening bell of the New York Stock Exchange this morning, after the company completed a SPAC transaction which makes the company a public company. The company said founder and CEO Henrik Fisker will be "ringing the bell virtually" at the NYSE. Fisker said the move will make it the "second American pure EV passenger car company to be listed on a US exchange". Fisker's move to the public markets comes via an unconventional route, where an already public, special purpose acquisition company (SPAC) acquires an existing company, bypassing the usual initial public offering (IPO) route.