other material
confidence high
sentiment neutral
materiality 0.75
LiveWire completes SPAC merger; H1 2022 revenue $25.7M, net loss $35.3M
LiveWire Group, Inc.
- Revenue for H1 2022 rose 61% YoY to $25.7M; net loss widened to $35.3M from $31.3M.
- Operating loss was $34.8M; cash used by operations $37.6M; cash balance $5.4M at June 26, 2022.
- Completed business combination with SPAC ABIC on Sep 26, 2022; EY appointed as new auditor replacing Withum.
- Amended certificate of incorporation and bylaws; adopted new code of business conduct and ethics.
- Received PIPE investment of $200M from Harley-Davidson and KYMCO at closing.