NIO Inc. (NYSE: NIO) reported on Friday that it has completed its recent at-the-market offering of American depositary shares announced in September 2021. The automaker was able to raise gross proceeds of US$2.0 billion.
The offering includes selling 53,292,401 American depositary shares, with each equivalent to one Class A common share.
As previously announced, the firm plans to use the net proceeds on strengthening its balance sheet and for general corporate purposes.
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The Chinese electric vehicle manufacturer announced this month its financials for Q3 2021 headlined by a quarterly revenue of US$1.5 billion and a net loss of US$129.6 million. The company was also able to deliver 24,439 electric vehicles during the quarter.
NIO Inc. last traded at US$38.66 on the NYSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
