Fisker Inc.

Fisker Inc. was an American automotive company founded in 2016 by Danish automotive designer Henrik Fisker and his wife, Geeta Gupta-Fisker. Based in Manhattan Beach, California, Fisker Inc. was the successor to Fisker Automotive. In the summer of 2020, Fisker Inc. announced an initial public offering on the New York Stock Exchange through a merger with Spartan Energy Acquisition Corp, a SPAC backed by private equity firm Apollo Global Management. The company completed the reverse merger that autumn. Fisker Inc. developed the Fisker Ocean, an electric sport utility vehicle (SUV), which was released in 2023. In early 2024, the company experienced intense financial difficulties, and its shares were delisted from the NYSE. Fisker defaulted on a short-term loan according to filings with the United States Securities and Exchange Commission and stated there was "substantial doubt" about being able to sustain ongoing operations. It subsequently laid off most of its employees, closed its headquarters, and began substantially reducing the price on the Ocean. By June, it filed for Chapter 11 bankruptcy in US court. A judge's ruling allowed Fisker to postpone Chapter 7 Conversion while allowing the company to continue liquidating its assets. The company and its creditors arrived at a bankruptcy agreement in October of 2024.