NIO Announces Additional US$100 Million Private Placements of Short-term Convertible Notes
February 14 2020 - 5:00AM
NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s
premium electric vehicle market, today announced that it has
entered into definitive transaction documents with two unaffiliated
Asia-based investment funds (the “Purchasers”), pursuant to which
NIO will issue and sell convertible notes in an aggregate principal
amount of US$100 million to the Purchasers through private
placement. The closings of both placements are subject to
satisfaction of customary closing conditions and are expected to
occur on or prior to February 19, 2020.
In light of the Company’s recent financing
transactions, the combined aggregate principal amount of the
convertible notes issued in all private placements announced so far
in 2020 will reach US$200 million once fully completed.
The notes to be issued to the Purchasers bear
zero interest and mature on February 4, 2021. Prior to maturity,
the holder of the notes has the right to convert either all or part
of the principal amount of the notes into Class A ordinary shares
(or ADSs) of the Company (a) from the date that is six (6) months
after the issuance date, at a conversion price of US$3.07 per ADS,
or (b) upon the completion of a bona fide issuance of equity
securities of the Company for fundraising purposes, at the
conversion price derived from such equity financing.
The Company is currently working on several
financing projects, the outcome of which is uncertain at this
stage. The Company will announce any material developments or
information subject to the requirements by applicable laws.
About NIO Inc.
NIO Inc. is a pioneer in China’s premium
electric vehicle market. Founded in November 2014, NIO’s mission is
to shape a joyful lifestyle by offering premium smart electric
vehicles and being the best user enterprise. NIO designs, jointly
manufactures, and sells smart and connected premium electric
vehicles, driving innovations in next generation technologies in
connectivity, autonomous driving and artificial intelligence.
Redefining the user experience, NIO provides users with
comprehensive, convenient and innovative charging solutions and
other user-centric services. NIO began deliveries of the ES8, a
7-seater high-performance premium electric SUV in China in June
2018, and its variant, the 6-seater ES8, in March 2019. NIO
officially launched the ES6, a 5-seater high-performance premium
electric SUV, in December 2018 and began the first deliveries of
the ES6 in June 2019. NIO officially launched the EC6, a 5-seater
smart premium electric coupe SUV, in December 2019 and plans to
commence deliveries in 2020.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. Among other things, the business outlook
and quotations from management in this announcement, as well as
NIO’s strategic and operational plans, contain forward-looking
statements. NIO may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about NIO’s
beliefs, plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding these and other risks is
included in NIO’s filings with the SEC. All information provided in
this press release is as of the date of this press release, and NIO
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For more information, please
visit: http://ir.nio.com
For investor and media inquiries, please
contact:
NIO Inc.Investor RelationsTel:
+86-21-6908-3681Email: ir@nio.com
The Piacente Group, Inc.Brandi
PiacenteTel: +1-212-481-2050Email: nio@tpg-ir.com
Ross WarnerTel:
+86-10-6508-0677Email: nio@tpg-ir.com
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