NIO Inc. Announces Closing of US$1 Billion Convertible Senior Notes Offering
September 25 2023 - 5:30AM
NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the
“Company”), a pioneer and a leading company in the premium smart
electric vehicle market, today announced the closing of its
offering of US$500 million in aggregate principal amount of
convertible senior notes due 2029 (the “2029 Notes”) and US$500
million in aggregate principal amount of convertible senior notes
due 2030 (the “2030 Notes,” and, together with the 2029 Notes, the
“Notes”) (the “Notes Offering”). The Notes were sold to persons
reasonably believed to be qualified institutional buyers in
reliance on the exemption from registration provided by Rule 144A
under the Securities Act of 1933, as amended (the “Securities
Act”).
The Company has granted the initial purchasers
in the Notes Offering an option, exercisable within a 30-day period
beginning on, and including, the date of the Notes Offering, to
purchase up to an additional US$75 million in aggregate principal
amount of the 2029 Notes and up to an additional US$75 million in
aggregate principal amount of the 2030 Notes.
Shortly after the pricing of the Notes, the
Company purchased, in separate privately negotiated transactions
effected through one of the initial purchasers and its affiliates,
approximately US$256 million aggregate principal amount of the
Company’s outstanding 0.00% convertible senior notes due 2026 and
approximately US$244 million aggregate principal amount of the
Company’s outstanding 0.50% convertible senior notes due 2027 for
cash using the net proceeds from the Notes Offering. The Company
plans to use the remainder of the net proceeds from the Notes
Offering mainly to further strengthen its balance sheet position as
well as for general corporate purposes.
The Notes, the ADSs deliverable upon conversion
of the Notes, if any, and the Class A ordinary shares represented
thereby, have not been and will not be registered under the
Securities Act or securities laws of any other places. They may not
be offered or sold, except to persons reasonably believed to be
qualified institutional buyers in reliance on the exemption from
registration provided by Rule 144A under the Securities Act.
This press release shall not constitute an offer
to sell or a solicitation of an offer to purchase any securities,
nor shall there be a sale of the securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
About NIO Inc.
NIO Inc. is a pioneer and a leading company in
the premium smart electric vehicle market. Founded in November
2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to
build a community starting with smart electric vehicles to share
joy and grow together with users. NIO designs, develops, jointly
manufactures and sells premium smart electric vehicles, driving
innovations in next-generation technologies in autonomous driving,
digital technologies, electric powertrains and batteries. NIO
differentiates itself through its continuous technological
breakthroughs and innovations, such as its industry-leading battery
swapping technologies, Battery as a Service, or BaaS, as well as
its proprietary autonomous driving technologies and Autonomous
Driving as a Service, or ADaaS. NIO’s product portfolio consists of
the ES8, a six-seater smart electric flagship SUV, the ES7 (or the
EL7), a mid-large five-seater smart electric SUV, the ES6, a
five-seater all-round smart electric SUV, the EC7, a five-seater
smart electric flagship coupe SUV, the EC6, a five-seater smart
electric coupe SUV, the ET7, a smart electric flagship sedan, the
ET5, a mid-size smart electric sedan, and the ET5T, a smart
electric tourer.
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. NIO may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in announcements, circulars or other
publications made on the websites of each of The Stock Exchange of
Hong Kong Limited (the “SEHK”) and the Singapore Exchange
Securities Trading Limited (the “SGX-ST”), 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, including but not limited to the following: NIO’s
strategies; NIO’s future business development, financial condition
and results of operations; NIO’s ability to develop and manufacture
a car of sufficient quality and appeal to customers on schedule and
on a large scale; its ability to ensure and expand manufacturing
capacities including establishing and maintaining partnerships with
third parties; its ability to provide convenient and comprehensive
power solutions to its customers; the viability, growth potential
and prospects of the newly introduced BaaS and ADaaS; its ability
to improve the technologies or develop alternative technologies in
meeting evolving market demand and industry development; NIO’s
ability to satisfy the mandated safety standards relating to motor
vehicles; its ability to secure supply of raw materials or other
components used in its vehicles; its ability to secure sufficient
reservations and sales of its vehicles; its ability to control
costs associated with its operations; its ability to build the NIO
brand; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in NIO’s filings with the SEC and the announcements and
filings on the websites of each of the SEHK and SGX-ST. 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
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