Another Electric Vehicle Stock Comes to Market: Fisker to Go Public Via a SPAC

Following what Reuters characterizes as a "a bidding war among blank-check companies," Fisker, a California-based electric vehicle (EV) maker, has opted to go public with Spartan Energy Acquistion (NYSE: SPAQ), a special purpose acquisition company. According to the terms of the transaction, Fisker will receive gross proceeds of $1 billion, which the company will use to help finance operations as it strives to bring its first vehicle, the all-electric luxury SUV, Fisker Ocean, to production in 2022.