Electrical Car maker Fisker Inc FSR is planning to supply $170 million in combination principal quantity of 0% senior unsecured convertible notes due 2025 to an present institutional investor.
The notes can have an authentic concern low cost of roughly 12%, leading to gross proceeds of $150 million to Fisker.
The notes are being offered pursuant to a beforehand introduced Securities Buy Settlement, dated July 10, 2023, between the corporate and the investor.
On account of the acquisition settlement modification, Fisker might now supply as much as a further $623.3 million in combination principal quantity of 0% senior unsecured convertible notes.
The notes can have an authentic concern low cost of roughly 12%, leading to extra gross proceeds of as much as $550 million to Fisker.
The brand new funding spherical follows a beforehand introduced convertible notes providing of $340 million in July 2023 by Fisker to the investor.
Fisker expects the capital to allow it to speed up deliveries, broaden progress, and expedite car applications.
Value Motion: FSR shares are buying and selling increased by 1.17% at $6.47 on the final verify Friday.
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