Cleantech & EV'sNews

NIO stock sinks after $1 billion planned convertible debt offering

Up-and-coming Chinese EV maker NIO’s stock is falling after announcing a proposed total of $1 billion in convertible senior notes on Monday. NIO revealed in an SEC filing it plans to issue two batches of $500 million notes, convertible to American depository shares (ADS) with long-dated maturities in 2029 and 2030. The EV maker plans to use the funds to “further strengthen its balance sheet as…
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