Under 10 & Shorts back too $6.5

NIO Stock Drops 4% After EV Maker Plans to Issue $1 Billion in Convertible Senior Notes

Electric vehicle maker NIO plans to raise $1.0 billion by issuing convertible senior notes to pare debt and boost its balance sheet. The shares dropped 4% in premarket trading Tuesday.The company will raise $500 million each by issuing convertible senior notes that will mature in 2029 and 2030, NIO said Tuesday.Upon conversion, NIO said it would pay or deliver to “such converting holders, as the case may be, cash, the company’s American Depositary Shares, each currently representing one Class A
NIO Stock Drops 4% After EV Maker Plans to Issue $1 Billion in Convertible Senior Notes

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Top
  • Latest
empty
No comments yet