LiveWire Group (LVWR) has released an update.
LiveWire EV, LLC, a subsidiary of LiveWire Group, Inc., has secured a Convertible Delayed Draw Term Loan of up to $100 million from Harley-Davidson, Inc. The loan, which has variable interest rates and a maturity date of either 24 months post-initial draw or October 31, 2026, can be converted into equity of the parent company at a discounted stock price under certain conditions. This potential conversion is subject to stockholder approval as it may exceed NYSE’s issuance thresholds. The agreement also includes restrictive covenants but does not impose operational conditions, and default triggers could accelerate loan maturity.
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