Nio (NIO) plunges on report it may need to raise additional $3B from investors
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NIO Inc. Announces Closing of US$1 Billion Convertible Senior Notes Offering
September 25, 2023 5:30 AM EDTSHANGHAI, China, Sept. 25, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (NIO or the Company), a pioneer and a leading company in the premium smart electric vehicle market, today announced the closing of its offering of US$500 million in aggregate principal amount of convertible senior notes due 2029 (the 2029 Notes) and US$500 million in aggregate principal amount of convertible senior notes due 2030 (the 2030 Notes, and, together with the 2029 Notes, the Notes) (the Notes Offering). The Notes were sold to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration... More
