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<blockquote data-quote="Chief Sapulpa" data-source="post: 3865347" data-attributes="member: 18458"><p><h3>Harley’s Electric-Motorcycle Spinoff Raises Less Than Planned in SPAC Debut</h3><p></p><p>(Bloomberg) -- LiveWire Group Inc., the electric motorcycle division spun off by Harley-Davidson Inc., raised less than planned and was valued below expectations in a lackluster trading debut.</p><p>The company, which went public through a combination with a blank-check firm, brought in $295 million in net proceeds through the listing, a spokesperson said Tuesday. That’s far short of the $545 million anticipated when the deal was announced in December.</p><p></p><p>After an initial surge, the shares fell 7.1% at 2:27 p.m. in New York, valuing the company at about $2 billion. LiveWire originally expected an equity value of $2.3 billion at close.</p><p></p><p>The loss-making EV business merged with AEA-Bridges Impact Corp., a special purpose acquisition company, to help fund its business plan until it breaks even in 2026. But in the nine months since the deal was announced, investors have shied away from blank-check transactions and the broader market has declined amid runaway inflation and rising interest rates.</p></blockquote><p></p>
[QUOTE="Chief Sapulpa, post: 3865347, member: 18458"] [HEADING=2]Harley’s Electric-Motorcycle Spinoff Raises Less Than Planned in SPAC Debut[/HEADING] (Bloomberg) -- LiveWire Group Inc., the electric motorcycle division spun off by Harley-Davidson Inc., raised less than planned and was valued below expectations in a lackluster trading debut. The company, which went public through a combination with a blank-check firm, brought in $295 million in net proceeds through the listing, a spokesperson said Tuesday. That’s far short of the $545 million anticipated when the deal was announced in December. After an initial surge, the shares fell 7.1% at 2:27 p.m. in New York, valuing the company at about $2 billion. LiveWire originally expected an equity value of $2.3 billion at close. The loss-making EV business merged with AEA-Bridges Impact Corp., a special purpose acquisition company, to help fund its business plan until it breaks even in 2026. But in the nine months since the deal was announced, investors have shied away from blank-check transactions and the broader market has declined amid runaway inflation and rising interest rates. [/QUOTE]
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