Harley-Davidson’s electric motorcycle division, LiveWire, is to be listed on the New York Stock Exchange via a business combination with AEA-Bridges Impact Corp., a special purpose acquisition company (SPAC). Its common stock will be listed under the symbol “LVW”.
The combined company is expected to have an enterprise value of approximately $1.77 billion, and post-money equity value of approximately $2.31 billion at closing.
The listing will make LiveWire the first public EV motorcycle company in the U.S. Its products are designed and developed in America.
The net cash proceeds will be used to fund LiveWire’s strategic plan to accelerate its go-to-market strategy, invest in new product development, and enhance its global manufacturing and distribution capabilities.
LiveWire has presence in North America and Europe, with plans to expand into additional markets including Asia.
Jochen Zeitz, Chairman, President and CEO of Harley-Davidson, will be Chairman and serve as Acting CEO of LiveWire for up to two years following completion of the transaction.
Zeitz says: “Today’s announcement is a historic milestone with LiveWire set to become the first publicly traded EV motorcycle company in the U.S. By building on Harley-Davidson’s 118-year lineage, LiveWire’s mission is to be the most desirable electric motorcycle brand in the world, leading the electrification of the sport. This transaction will give LiveWire the freedom to fund new product development and accelerate its go-to-market model. LiveWire will be able to operate as an agile and innovative public company while benefitting from the at-scale manufacturing and distribution capabilities of its strategic partners, Harley-Davidson and KYMCO.”
John Garcia, Chairman and Co-CEO of AEA-Bridges Impact Corp, adds: “We are at the confluence of two seminal shifts impacting the industry – vehicle electrification and sustainability. LiveWire is well-positioned to become the premier sustainable electric motorcycle brand and redefine the industry by leveraging the manufacturing and distribution expertise of Harley-Davidson and KYMCO. We’re excited to partner with Harley-Davidson and the LiveWire team to help define the future of electric motorcycles as the industry continues its rapid transformation.”
Since 1903, Harley-Davidson has delivered a motorcycle lifestyle with distinctive and customizable motorcycles, experiences, motorcycle accessories, riding gear and apparel.
