Fisker’s Flub Puts Susquehanna in Driver’s Seat: Chris Bryant

Becoming a public company entails big responsibilities, among them the requirement to promptly file audited accounts. Fisker Inc.’s peril shows what happens when neophytes fail to get the basics right. Sophisticated lenders have ways to protect themselves, while retail investors could be left holding the bag.

The California-based electric-vehicle maker has warned it may file for bankruptcywithin weeks, following operational challenges ranging from logistics problems to an ill-conceived sales model and buggy software. Having gone public in 2020 via a special purchase acquisition company, the startup has paused production, slashed prices and laid off hundreds of employees.

However, Fisker’s predicament was made worse by a ...