SHANGHAI, China, Jan. 30, 2019 (GLOBE NEWSWIRE) -- NIO, Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium electric vehicle market, today announced the pricing of its previously announced offering (the “Notes Offering”) of US$650 million in aggregate principal amount of convertible senior notes due 2024 (the “Notes”). The Company has granted the initial purchasers in the Notes Offering a 30-day option to purchase up to an additional US$100 million in principal amount of the Notes. The Company plans to use part of the net proceeds from the Notes Offering to pay the costs of the capped call transactions and the zero-strike call option transactions described below and use the remainder of the proceeds on research and development of products, services and technology, development of manufacturing facilities and the roll-out of supply chain, sales and marketing, and other working capital needs. An entity affiliated with Tencent Holdings Limited, one of the Company’s principal shareholders, and an entity affiliated with Hillhouse Capital Management Ltd., another one of the Company’s principal shareholders, are expected to purchase US$30 million and US$5 million, respectively, principal amount of the Notes in the Notes Offering on the same terms as the other Notes being offered.
NIO Inc. Prices Offering of US$650 Million Convertible Senior Notes
Jan 31, 2019
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