NIO Inc. (NIO) Announces Proposed 75M ADS Offering
NIO Inc. (NYSE: NIO) today announced the commencement of the offering of 75,000,000 American depositary shares (the “ADSs”), each representing one Class A ordinary share of the Company (the “ADS Offering”). The Company intends to grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 11,250,000 ADSs.
Morgan Stanley & Co. LLC, China International Capital Corporation Hong Kong Securities Limited and BofA Securities, Inc. are acting as the underwriters for the ADS Offering.
The ADSs will be offered under the Company’s shelf registration statement on Form F-3 which was filed with the Securities and Exchange Commission (the “SEC”) and automatically became effective on June 9, 2020. A preliminary prospectus supplement related to the proposed ADS Offering has been filed with the SEC. The registration statement on Form F-3 and the preliminary prospectus supplement are available at the SEC website at: http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from (1) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department; (2) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong; and (3) BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, Email: [email protected].
The Company plans to use the net proceeds from the ADS Offering mainly to increase the share capital of and the Company’s ownership in NIO China, to repurchase equity interests held by certain minority shareholders of NIO China, and for research and development in autonomous driving technologies, global market development and general corporate purposes.