Apollo-affiliated SPAC backs eco-friendly luxury SUV maker

A special purpose acquisition company (SPAC) sponsored by Spartan, an affiliate of Apollo Global, is merging with electric car maker Fisker that will take the company public on the NYSE.

The transaction is set to provide more than $1 billion of gross proceeds to Fisker, including $500 million via a common stock PIPE priced at $10.00 per share. The deal is anchored by existing and new investors -- including Moore Strategic Ventures, which is the private investment vehicle of legendary hedge fund manager Louis M. Bacon. Other investors included AllianceBernstein, funds and accounts managed by BlackRock and . . .

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