It’s hard to imagine a Harley-Davidson without its iconic audible noise before the silhouette of the two wheels appears in the distance, so unique it’s patented. A symbol of road bikers for over 100 years, the American manufacturer has long established a division dedicated to the production of electric motorcycles, LiveWire, now ready to take off to become the first electric motorbike to be listed on the stock exchange.
The operation will be possible through the merger with Spac AEA Bridges Impact led by the private equity fund AEA Investors and the investment company Bridge Fund Management. The merger values LiveWire $ 1.77 billion, according to a company statement. The listing is expected in the middle of next year on the New York Stock Exchange under the symbol (LVW). Harley-Davidson’s stock fell into negative territory (-1.01 per cent) after a surge at the opening of the session.
CEO Jochen Zeitz, contacted by the FT, stated that the evaluation is justified because “it is not a start-up, but a company with a glorious centuries-old history, solid management, now ready to explore the electric motorcycle sector. which will remain separate from its core business “.
Harley-Davidson plans to invest between $ 190 million and $ 250 million on LiveWire in the development of the new electric motorcycle model. An industrial investor will be the Taiwanese sports motorcycle company, KYMC which will invest 100 million dollars in the Spac, another 100 million dollars will be invested by Harley-Davidson itself and 400 million dollars by AEA-Bridges Impact Corp. After the completion of the ‘agreement, Harley-Davidson will continue to hold 74% of LiveWire, KYMCO 4% and the remainder will be in the hands of AEA-Bridges Impact’s financial investors.