Li Auto Announced Termination Of The US ATM Offering
Portfolio Pulse from Charles Gross
Li Auto Inc. (NASDAQ:LI) has announced the termination of its US ATM Offering, effective immediately after the close of business on September 27, 2023. The company has sold 13,502,429 ADSs representing 27,004,858 Class A Ordinary Shares under the US ATM Offering, raising gross proceeds of US$536.4 million. The proceeds will be used for R&D of next-gen electric vehicle technologies, development and manufacture of future platforms and car models, and working capital needs and general corporate purposes.
September 27, 2023 | 11:46 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Li Auto's termination of its US ATM Offering could potentially impact its stock price. The company has raised significant capital through the offering, which it plans to invest in R&D and future car models.
The termination of the US ATM Offering could have mixed effects on Li Auto's stock. On one hand, the company has already raised significant capital, which it plans to invest in potentially value-adding activities such as R&D and the development of new car models. On the other hand, the termination of the offering could be seen as a signal that the company does not intend to raise additional capital in the near future, which could potentially impact investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100