M&A
confidence high
sentiment neutral
materiality 0.90
Harley-Davidson to spin off LiveWire via SPAC merger with ABIC; enterprise value $1.77B
HARLEY-DAVIDSON, INC.
- Transaction equity value of $1.77B; H-D to receive 161M shares plus up to 12.5M earn-out shares.
- H-D commits backstop up to $100M for redemptions and $100M private placement (10M shares at $10).
- KYMCO invests $100M PIPE at $10/share and signs 10-year collaboration agreement.
- LiveWire to list on NYSE as LVW; deal expected to close by September 30, 2022.
- Closing conditions include SPAC shareholder vote, HSR clearance, and minimum $270M available cash.