EV Maker Fisker Piles Up Cash Via Debt Offering With Eyes On Expansion
Portfolio Pulse from Shivani Kumaresan
Fisker Inc (NYSE:FSR) plans to offer $170 million in 0% senior unsecured convertible notes due 2025 to an existing institutional investor, resulting in gross proceeds of $150 million. The company may offer an additional $623.3 million in similar notes, potentially raising up to $550 million more. This follows a previous offering of $340 million in July 2023. The capital is expected to accelerate deliveries, expand growth, and expedite vehicle programs.
September 29, 2023 | 4:34 pm
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Fisker's plan to raise up to $720 million through convertible notes offerings could boost its financial position and accelerate its growth, potentially positively impacting its stock price.
The news of Fisker's plan to raise significant capital through convertible notes offerings is directly related to the company's financial position and growth prospects. This could make the company more attractive to investors, potentially driving up its stock price in the short term.
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