Summary by Moomoo AI
Magna International Inc., a Canadian corporation, has filed an amendment to its Schedule 13G with the United States Securities and Exchange Commission on February 14, 2024, indicating a significant stake in Fisker Inc., an American electric vehicle manufacturer. As of December 31, 2023, Magna International may be deemed the beneficial owner of approximately 8.2% of Fisker's outstanding shares, amounting to 19,474,454 shares. This ownership is attributed to the right to acquire the same number of shares upon the exercise of warrants, which are set to expire on October 29, 2030. The filing indicates that Magna International has sole voting and dispositive power over these shares, with no shared power reported. The members of Magna's Board and management team, as listed in the filing, have shared voting and investment power over the shares but disclaim beneficial ownership of the reported shares. The filing asserts that the shares were not acquired for the purpose of changing or influencing the control of Fisker Inc.