By Josh Beckerman

Fisker shares rose 16% Monday after the electric-vehicle company said an agreement with a noteholder will "provide increased flexibility and better position us to execute on potential strategic business deals."

The stock was recently trading at 92 cents and is down about 87% over the last 52 weeks.

Fisker and the 2025 convertible notes investor agreed that upon a definitive agreement with a strategic OEM partner, any liens on intellectual property would be released, further enabling strategic collaborations. The agreement also waives all financial covenants related to cash reserves.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 22, 2024 13:32 ET (18:32 GMT)

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