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Harley-Davidson (HOG) EV unit LiveWire to go public via SPAC

By Joyanta Acharjee

13:41, 13 December 2021

A LiveWire bike on display at a show
LiveWire to trade under 'LVW' ticker on New York Stock Exchange – Photo: Shutterstock

Harley-Davidson (HOG) will take its electric motorcycle unit LiveWire public in a deal which values it at $1.77bn (£1.34bn), making it the first publicly traded electric vehicle (EV) motorcycle company in the US.

LiveWire is set to go public by merging with special purpose acquisition company (SPAC) AEA-Bridges Impact (IMPX) and listing under the “LVW” ticker on the New York stock exchange.

Harley stock was up 12% pre-market to $41.18 while AEA-Bridges stock rose 4% to $10.20.

Funds development

“This transaction will give LiveWire the freedom to fund new product development and accelerate its go-to-market model,” Harley-Davidson chairman, president and CEO Jochen Zeitz said in a press release.

“LiveWire will be able to operate as an agile and innovative public company while benefitting from the at-scale manufacturing and distribution capabilities of its strategic partners.”


249.42 Price
+5.620% 1D Chg, %
Long position overnight fee -0.0262%
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147.02 Price
-0.540% 1D Chg, %
Long position overnight fee -0.0262%
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Overnight fee time 22:00 (UTC)
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477.93 Price
-0.860% 1D Chg, %
Long position overnight fee -0.0262%
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Overnight fee time 22:00 (UTC)
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0.72 Price
-0.490% 1D Chg, %
Long position overnight fee -0.0253%
Short position overnight fee 0.0033%
Overnight fee time 22:00 (UTC)
Spread 0.0125

The transaction will be financed by AEA-Bridges' $400m cash held in trust, a $100m investment from Harley-Davidson plus a $100m private investment from Taiwan scooter maker KYMCO. Proceeds from the offering will be used to accelerate LiveWire’s go-to-market model and for investment in new product development and manufacturing.

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HOG retains 74%

On closing, Harley-Davidson will retain 74% of LiveWire, AEA-Bridges shareholders will own approximately 17% and AEA-Bridges' founders and KYMCO will own approximately 4%.

Harley-Davidson sold 180,248 motorcycles worldwide in 2020, of which 61% were sold in North America. The iconic motorcycles were featured in the classic 1969 movie Easy Rider and hit TV show Sons of Anarchy on cable network FX.

Read more: Harley-Davidson revs up on Q3 earnings

Markets in this article

30.16 USD
-0.25 -0.830%
30.16 USD
-0.25 -0.830%
30.16 USD
-0.25 -0.830%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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