Harley to take electric motorcycle company public via SPAC

MILWAUKEE (AP) — Harley-Davidson will take its electric motorcycle division public through a blank-check company, valuing the enterprise that has been part of the Harley for 10 years at $1.77 billion.

The news gave a jolt to long-suffering shares of Harley-Davidson, which are up 12% before the opening bell Monday. Under the agreement, the special purpose acquisition company AEA-Bridges Impact Corp. will buy Harley-Davidson's LiveWire and make it the first publicly traded electric motorcycle company in the U.S. next year.

LiveWire has been part of the Milwaukee motorcycle maker for 10 years and became a separate unit in 2019.

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