On December 14th, US Eastern Time, NIO Inc. (NIO.US) announced on its official website that it will issue an additional 68 million ADS shares at a price of USD 39 per share. NIO will grant underwriters a 30-day option to purchase an additional 10,200,000 ADS shares. The underwriters for this offering are Morgan Stanley & Co. LLC and China International Capital Corporation Hong Kong Securities Limited.
According to NIO’s announcement, the maximum fundraising amount for this issuance can reach 3.05 billion RMB. On December 10th, NIO announced that it would issue 60 million ADS shares with underwriters having the option to purchase up to 9,000,000 ADS shares. The net proceeds from the issuance will mainly be used for research and development of new products and next-generation autonomous driving technologies, expansion of sales and service networks, and market penetration.
This is the third time this year that NIO has announced an additional issuance. On June 15th, NIO completed an additional issuance of 72 million ADS shares, raising over USD 400 million. Then, on August 31st, NIO completed an additional issuance of 88.5 million ADS shares, raising approximately USD 1.73 billion.
🔗 Source: NIO
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