Spartan Energy Acquisition Corp. Announces Stockholder Approval of Extension of Deadline to Complete Business Combination
August 06 2020 - 11:17AM
Spartan Energy Acquisition Corp. (“Spartan”) (NYSE:SPAQ), a special
purpose acquisition company (“SPAC”) sponsored by an affiliate of
Apollo Global Management, Inc. (NYSE:APO), today announced that its
stockholders approved an extension of the date by which it has to
complete a business combination from August 14, 2020 to February
14, 2021. Spartan requested the extension in order to complete the
previously announced proposed business combination (the “Fisker
Transaction”) with Fisker Inc. (“Fisker”).
The Fisker Transaction is expected to be completed in the fourth
quarter of 2020, subject to, among other things, the approval by
Spartan’s stockholders, satisfaction of the conditions stated in
the definitive agreement and other customary closing
conditions.
About Spartan Energy Acquisition Corp.
Spartan is a SPAC focused on the energy value-chain in North
America and was formed for the purpose of entering into a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses. Spartan is sponsored by Spartan Energy Acquisition
Sponsor LLC, which is owned by a private investment fund managed by
an affiliate of Apollo Global Management, Inc. (NYSE: APO).
Forward Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended (the “Securities Act”), and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other
than statements of present or historical fact included in this
press release, regarding Spartan’s proposed acquisition of Fisker
and Spartan’s ability to consummate the Fisker Transaction are
forward-looking statements. When used in this press release, the
words “could,” “should,” “will,” “may,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project,” the negative of such
terms and other similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. These forward-looking
statements are based on management’s current expectations and
assumptions about future events and are based on currently
available information as to the outcome and timing of future
events. Except as otherwise required by applicable law, Spartan
disclaims any duty to update any forward-looking statements, all of
which are expressly qualified by the statements in this section, to
reflect events or circumstances after the date of this press
release. Spartan cautions you that these forward-looking statements
are subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
Spartan. In addition, Spartan cautions you that the forward-looking
statements contained in this press release are subject to the
following factors: (i) the occurrence of any event, change or other
circumstances that could delay the Fisker Transaction or give rise
to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against
Spartan or Fisker following announcement of the transactions; (iii)
the inability to complete the Fisker Transaction due to the failure
to obtain approval of the stockholders of Spartan, or other
conditions to closing in the transaction agreement; (iv) the risk
that the proposed business combination disrupts Spartan’s or
Fisker’s current plans and operations as a result of the
announcement of the transactions; (v) Fisker’s ability to realize
the anticipated benefits of the business combination, which may be
affected by, among other things, competition and the ability of
Fisker to grow and manage growth profitably following the business
combination; (vi) costs related to the business combination; (vii)
changes in applicable laws or regulations; and (viii) the
possibility that Fisker may be adversely affected by other
economic, business, and/or competitive factors. Should one or more
of the risks or uncertainties described in this press release, or
should underlying assumptions prove incorrect, actual results and
plans could different materially from those expressed in any
forward-looking statements. Additional information concerning these
and other factors that may impact the operations and projections
discussed herein can be found in Spartan’s periodic filings with
the Securities and Exchange Commission (the “SEC”), including its
Annual Report on Form 10-K for the fiscal year ended December 31,
2019 and Quarterly Report on Form 10-Q for the quarter ended June
30, 2020. Spartan’s SEC filings are available publicly on the SEC’s
website at www.sec.gov.
Important Information for Investors and
Stockholders
In connection with the Fisker Transaction, Spartan will file a
proxy statement with the SEC. Additionally, Spartan will file other
relevant materials with the SEC in connection with the Fisker
Transaction. Copies may be obtained free of charge at the SEC’s web
site at www.sec.gov. Security holders of Spartan are urged to read
the proxy statement and the other relevant materials when they
become available before making any voting decision with respect to
the Fisker Transaction because they will contain important
information about the Fisker Transaction and the parties to the
Fisker Transaction.
Participants in the Solicitation
Spartan and its directors and executive officers may be deemed
participants in the solicitation of proxies of Spartan’s
stockholders in connection with the Fisker Transaction. Security
holders may obtain more detailed information regarding the names,
affiliations and interests of certain of Spartan’s executive
officers and directors in the solicitation by reading Spartan’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2019, and the proxy statement and other relevant materials filed
with the SEC in connection with the Fisker Transaction when they
become available. Information concerning the interests of Spartan’s
participants in the solicitation, which may, in some cases, be
different than those of Spartan’s stockholders generally, will be
set forth in the proxy statement relating to the Fisker Transaction
when it becomes available.
Contacts:
Head of Investor RelationsGary M.
Stein212.822.0467gstein@apollo.com
Investor Relations ManagerAnn Dai212.822.0678Adai@Apollo.Com
Global Head of Corporate CommunicationsJoanna
Rose212.822.0491jrose@apollo.com
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