Fisker Announces $340M Convertible Notes Offering, Potential to Increase to $680M
Portfolio Pulse from Benzinga Newsdesk
Fisker Inc. (NYSE:FSR) has announced its intention to offer $340M in aggregate principal amount of 0% senior unsecured convertible notes due 2025 to an institutional investor, with the potential to increase the amount to $680M. The proceeds will be used for general corporate purposes, including working capital, an additional battery pack line, sales and marketing, capital expenditures, and the development of future products.
July 10, 2023 | 10:32 am
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POSITIVE IMPACT
Fisker's announcement of a convertible notes offering could potentially increase liquidity and fund future growth, which may be seen as a positive move by investors.
The offering of convertible notes is a common way for companies to raise capital. This move could potentially increase Fisker's liquidity and provide funds for future growth, which could be seen as a positive move by investors and potentially lead to an increase in the stock price.
CONFIDENCE 85
IMPORTANCE 80
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