- LiveWire raises approximately $334m in gross proceeds
- LiveWire becomes the first EV motorcycle company to list on the
NYSE
- Trading beings on September 27th
under the new ticker "LVWR" on the New York Stock Exchange
MILWAUKEE and NEW
YORK and LONDON,
Sept. 27,
2022 /PRNewswire/ -- Harley-Davidson, Inc.
("Harley-Davidson") (NYSE: HOG), the world's most desirable
motorcycle company, and AEA-Bridges Impact Corp. ("ABIC")
(NYSE: IMPX), a special purpose acquisition company with a
dedicated sustainability focus, sponsored by executives of AEA
Investors and Bridges Fund Management, today announced the
completion of their previously announced business combination under
which LiveWire EV, LLC (the "Company"), Harley-Davidson's electric
motorcycle division, combined with ABIC, to create a new public
company.
The business combination was officially approved at an
extraordinary general meeting by ABIC stockholders on September 16, 2022. Upon completion of the
business combination, the combined public company will operate as
LiveWire Group, Inc. ("LiveWire") and its common stock and warrants
will begin trading on the New York Stock Exchange ("NYSE") under
the symbols "LVWR" and "LVWR WS," respectively today, September 27, 2022. Through this combination,
LiveWire will become the first and only EV motorcycle company in
the U.S. to list on the NYSE.
"This transaction represents a proud and exciting milestone for
LiveWire towards its ambition to become the most desirable electric
motorcycle brand in the world," said Jochen
Zeitz, Chairman, President and CEO of Harley-Davidson, and
Chairman and CEO of LiveWire. "We believe LiveWire is well
positioned to define the two-wheel EV market, and we're excited
about the future – in celebration of our listing today, we're
pleased to open reservations for the production version of the S2
Del Mar for the U.S. market."
LiveWire will be ringing the opening bell at the NYSE today, to
celebrate LiveWire's public listing.
Soulful by design, LiveWire is transforming the everyday into
urban adventure and beyond. Building a future for riders
differentiated by look, sound, and feel. LiveWire is leading the
electrification of motorcycling by means of design, software and
experience. Backed by 119-years of engineering and manufacturing
heritage but with the agility of a start-up, LiveWire is well
positioned to define the future of two-wheel EV.
About LiveWire
LiveWire is the future in the making
for the pursuit of urban adventure and beyond. Drawing on its DNA
as an agile disruptor from the lineage of Harley-Davidson and
capitalizing on a decade of learnings in the EV sector, LiveWire's
ambition is to be the most desirable electric motorcycle brand in
the world. With a dedicated focus on EV, LiveWire plans to develop
the technology of the future and to invest in the capabilities
needed to lead the transformation of motorcycling. LiveWire
benefits from Harley-Davidson's engineering expertise,
manufacturing footprint, supply chain infrastructure, and global
logistics capabilities. Innovating by design and attracting
industry-leading talent, LiveWire is headquartered virtually, with
initial hubs in Silicon Valley, CA (LiveWire Labs) and Milwaukee, WI. www.livewire.com
About Harley-Davidson
Harley-Davidson, Inc. is
the parent company of Harley-Davidson Motor
Company and Harley-Davidson Financial Services. Our
vision: Building our legend and leading our industry through
innovation, evolution and emotion. Our mission: More than building
machines, we stand for the timeless pursuit of adventure. Freedom
for the soul. Our ambition is to maintain our place as the most
desirable motorcycle brand in the world. Since 1903,
Harley-Davidson has defined motorcycle culture by delivering a
motorcycle lifestyle with distinctive and customizable motorcycles,
experiences, motorcycle accessories, riding gear and
apparel. Harley-Davidson Financial Services provides
financing, insurance and other programs to help get riders on the
road. www.harley-davidson.com
Advisors
J.P. Morgan Securities LLC served as financial advisor to
Harley-Davidson, and Latham & Watkins LLP acted as legal
counsel to Harley-Davidson. Credit Suisse Securities (USA) LLC served as financial advisor and
capital markets advisor to ABIC. Citigroup Global Markets Inc.
served as capital markets advisor to ABIC. Kirkland & Ellis LLP
acted as legal counsel to ABIC.
Forward-Looking Statements Legend
This communication
may contain a number of "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include information concerning
LiveWire's possible or assumed future results of operations,
business strategies, debt levels, competitive position, industry
environment, potential growth opportunities and the effects of
regulation, including whether the business combination between the
Company and ABIC (the "Business Combination") will generate returns
for shareholders. These forward-looking statements are based on
Harley-Davidson's or LiveWire's management's current expectations,
estimates, projections and beliefs, as well as a number of
assumptions concerning future events. When used in this
communication, the words "estimates," "projected," "expects,"
"anticipates," "forecasts," "plans," "intends," "believes,"
"seeks," "may," "will," "should," "future," "propose" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Harley-Davidson's or LiveWire's
management's control, that could cause actual results to differ
materially from the results discussed in the forward-looking
statements. These risks, uncertainties, assumptions and other
important factors include, but are not limited to: (a) the ability
to recognize the anticipated benefits of the Business Combination,
which may be affected by, among other things, competition, the
ability of LiveWire to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (b) costs related to the Business
Combination; (c) changes in applicable laws or regulations,
including legal or regulatory developments (including, without
limitation, accounting considerations) which could result in the
need for LiveWire to restate its historical financial statements
and negatively impact the trading price of LiveWire's securities;
(d) the possibility that Harley-Davidson and LiveWire may be
adversely affected by other economic, business, and/or competitive
factors; (e) Harley-Davidson's ability to execute its business
plans and strategies, including The Hardwire; (f) LiveWire's
estimates of expenses and profitability and (g) other risks and
uncertainties indicated from time to time in the final prospectus
of LiveWire, including those under "Risk Factors" therein, and
other documents filed or to be filed with the Securities and
Exchange Commission by Harley-Davidson or LiveWire. You are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made.
Forward-looking statements speak only as of the date they are
made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Harley-Davidson and LiveWire assume
no obligation and, except as required by law, do not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Neither
Harley-Davidson nor LiveWire gives any assurance that LiveWire will
achieve its expectations.
###
View original content to download
multimedia:https://www.prnewswire.com/news-releases/harley-davidson-livewire-and-aea-bridges-impact-corp-announce-closing-of-business-combination-301634093.html
SOURCE Harley-Davidson, Inc.