Harley’s EV Spinoff Raises Less Than Planned in SPAC Debut (1)

LiveWire Group Inc., the electric motorcycle division spun off by Harley-Davidson Inc., raised less than planned and was valued below expectations in a lackluster trading debut.

The company, which went public through a combination with a blank-check firm, brought in $295 million in net proceeds through the listing, a spokesperson said Tuesday. That’s far short of the $545 million anticipated when the deal was announced in December.

Watch: Harley-Davidson’s LiveWire Group unit begins trading.

Source: Bloomberg

After an initial surge, the shares fell 7.1% at 2:27 p.m. in New York, valuing the company at about $2 billion. LiveWire originally expected an equity value of $2.3 billion ...