Electric vehicle maker Fisker Inc. is in talks to go public through a sale to a so-called blank-check acquisition company, modeled after a successful

Fisker the latest EV maker eyeing deal to go public

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2020-07-09 17:12:14

Electric vehicle maker Fisker Inc. is in talks to go public through a sale to a so-called blank-check acquisition company, modeled after a successful deal earlier this year by peer Nikola Corp., people familiar with the matter said on Thursday.

Nikola shares are up more than 60 percent since it went public last month through such a deal, as investors place bets on which startup will be the next Tesla Inc. Earlier this month, autonomous vehicle technology company Velodyne Lidar agreed to be bought by blank-check company Graf Industrial Corp, fuelling a rally in the latter’s shares.

Spartan Energy Acquisition Corp, which is backed by private equity firm Apollo Global Management Inc, is leading a bidding war among special purpose investment firms for Fisker, and could clinch a deal as early as next week, the sources said.

On Tuesday, Fisker said it has raised $50 million from hedge fund veteran Louis Bacon, with the money going toward engineering for the SUV it aims to roll out in 2022.