Harley-Davidson, Inc. (NYSE: HOG), the world's most desirable motorcycle company, saw its share price skyrocket as the company and AEA-Bridges Impact Corp. (NYSE: IMPX) hooked up.
AEA-Bridges, a special purpose acquisition company with a dedicated sustainability focus, sponsored by executives of AEA Investors and Bridges Fund Management, today announced that it and Harley have entered into a definitive business combination agreement under which ABIC will combine with LiveWire, Harley-Davidson's electric motorcycle division, to create a new publicly traded company. Its common stock is expected to be listed on the New York Stock Exchange under the symbol "LVW".
As a strong and desirable brand with growing global recognition, LiveWire plans to develop the technology of the future and to invest in the capabilities needed to lead the transformation of motorcycling. LiveWire will draw on its DNA as an agile disruptor from the lineage of Harley-Davidson, capitalizing on a decade of learnings in the EV sector and the iconic heritage of the most desirable motorcycle brand in the world.
Said Harley CEO Jochen Zeitz "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.
HOG shares accelerated $5.63, or 15.3%, to $42.44, while those for IMPX –leaped 36 cents, or 3.7%, to $10.21.
