Harley-Davidson Inc (NYSE:HOG) is trading higher Monday after the company announced LiveWire, its electric motorcycle division, will become a separate publicly traded company through a merger with AEA-Bridges Impact Corp (NYSE:IMPX).
LiveWire is expected to be listed on the New York Stock Exchange and trade under the ticker symbol "LVW."
"This transaction will give LiveWire the freedom to fund new product development and accelerate its go-to-market model. LiveWire will be able to operate as an agile and innovative public company while benefitting from the at-scale manufacturing and distribution capabilities of its strategic partners, Harley-Davidson and KYMCO," said Jochen Zeitz, chairman, president and CEO of Harley-Davidson.
"Harley-Davidson, ABIC and KYMCO, believe in the future of LiveWire as a dedicated electric brand with the ability to lead, grow and revolutionize the electric motorcycle industry and beyond," the companies said.
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Harley-Davidson is a global leading manufacturer of heavyweight motorcycles, merchandise, parts and accessories.
HOG Price Action: Harley-Davidson has traded as high as $52.05 and as low as $31.20 over a 52-week period.
The stock was up 13.60% at $41.79 at time of publication.
Photo: Tama66 from Pixabay.
