Polestar stock jumps as BBVA discloses 8.4% stake and Geely backstop details surface
Polestar shares rose 4.4% to $20.38 after BBVA disclosed an 8.4% stake and a put option arrangement tied to Geely affiliates. A separate filing detailed a $600 million Geely-linked term loan facility with a conversion feature and confirmed the PIPE transaction closed Dec. 23. Polestar recently changed its ADS ratio to 1:30.