Polestar shares expected to debut Friday on Nasdaq after SPAC deal approved

Shares of electric vehicle company Polestar are expected to debut on the Nasdaq on June 24, after shareholders of special purpose acquisition company Gores Guggenheim Inc.
GGPI,
+11.87%
approved the previously announced business combination between the companies.

The closing of the business combination is seen taking place Thursday. Polestar shares are expected to begin trading on Friday on the Nasdaq under the symbol PSNY.

Gores Guggenheim Inc. is sponsored by affiliates of The Gores Group LLC and Guggenheim Capital LLC, the company said.

Shares of Gores Guggenheim finished the day’s regular trading with an 11.87% gain, closing at $10.84 per share. Shares were slightly up after hours, having risen 0.28% at 5:23 p.m. ET to trade at $10.87 each.