NIO Announces Private Placement of US$100 Million Short-term Convertible Notes
February 06 2020 - 7:00AM
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 an unaffiliated
Asia based investment fund (the "Purchaser"), pursuant to which NIO
will issue and sell convertible notes in an aggregate principal
amount of US$70 million to the Purchaser through a private
placement. The convertible notes are to be issued pursuant to an
indenture to be entered into on the closing date between the
Company and The Bank of New York Mellon, London Branch, as trustee.
The closing of this placement is subject to satisfaction of
customary closing conditions and is expected to occur on or around
February 10, 2020. In addition to the private placement to the
Purchaser, the Company consummated another convertible notes
private placement in January 2020 to another unaffiliated Asia
based investment fund on similar terms. The combined aggregate
principal amount of the convertible notes issued in the foregoing
two placements is around US$100 million.
The notes to be issued to the Purchaser bear
zero interest and mature on February 4, 2021. Prior to maturity,
the holder of the notes has the right to convert the notes (a)
after the six-month anniversary, into ADSs representing Class A
ordinary shares of the Company at an initial 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, into
ADSs representing Class A ordinary shares of the Company at the
conversion price derived from such equity financing.
The Company is currently working on several
other 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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