announced today that it has completed a $235 million convertible note financing. The investors are a number of Asian investment funds, all of which are "non-affiliated parties" and are not pure financial investors, it said.

On February 14, Nio announced that it had completed a $100 million convertible bond financing project. As of that date, Nio had announced that it had completed a total of $200 million in convertible bond financing in 2020.

At that time, Nio said, "Other financing projects are still ongoing and positive progress has been made. We will disclose the progress of financing projects according to disclosure requirements. At this stage, Nio is mainly focused on strategies that can bring business development and efficiency improvements in China Value financing project. "

As of today, Nio has announced in 2020 that it has completed a total of $ 435 million in convertible debt financing.

Nio shares went down 1.55% in pre-market trading.

Here is Nio's full announcement:

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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 several unaffiliated Asia-based investment funds (the "Purchasers"), pursuant to which Nio will issue and sell convertible notes in an aggregate principal amount of US$235 million to the Purchasers through private placements. The closings of these private placements are subject to satisfaction of customary closing conditions and are expected to occur on or prior to March 11, 2020.

The notes to be issued to the Purchasers bear zero interest and will mature on March 5, 2021. Prior to maturity, holders of the notes have the right to convert either all or part of the principal amount of the notes into Class A ordinary shares (or ADSs) of the Company from September 5, 2020, at a conversion price of US$3.50 per ADS, subject to certain adjustments.