Electric-car maker Fisker Inc. is hoping to ride twin waves of investor interest in electric vehicles and blank-check companies to get its first vehicles onto roads in a couple of years.

Fisker and Spartan Energy Acquisition Corp., a special purpose acquisition corporation, or blank-check company backed by Apollo Global Management Inc. announced their merger on Monday. The deal valued Fisker at $2.9 billion and it is expected to close in the fourth quarter.

Fisker said it had a net loss attributable to shareholders of $10.4 million in 2019, compared with a net loss of $4.7 million in 2018. It had $1.9 million in cash and cash equivalents last year.

Fisker’s IPO is “timely” as it is taking advantage of Tesla Inc. share rally “and the PR blitz” of electric-truck maker Nikola Corp., said David Kudla, CEO of Mainstay Capital Management.

“Going public through a SPAC allows the company to raise proceeds in a timely and cost efficient manner,” he said. “Whether or not Fisker can become profitable and cash flow positive with a $40,000 EV SUV remains to be seen.” …

... Fisker has said its “‘emotional design’ will be the way his vehicles stand out in a crowded EV market,” Mainstay’s Kudla said. …


If you would like a copy of the complete article, please send an email request to This email address is being protected from spambots. You need JavaScript enabled to view it., or call toll-free 1-866-444-6246. If sending an email request, please include the following: title, date of article, and your mailing address.

Important Consumer Disclosure

Mainstay Capital Management, LLC is an investment advisor registered with the Securities and Exchange Commission. Due to various state regulations and filing requirements, Mainstay and its representatives may only provide investment advisory services in those states in which it is first appropriately registered or otherwise exempt or excluded from registration requirements. The purpose of this website is to provide the public with general information about the services offered by our investment management firm. Mainstay does not render personalized investment advice or services or effect, or attempt to effect any securities transactions, on this website. Our firm continuously monitors its filing requirements in all states, and will provide individualized advisory services only in accordance with various state regulations. Mainstay does not make any representations or warranties as to the accuracy, completeness, or relevance of any information prepared by any unaffiliated third party provider, whether linked to Mainstay's website or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.