Chinese electric vehicle (EV) maker Nio (NYSE: NIO) announced on December 14 that it intends to price an additional 68 million ADS at $39 per ADS and expects to raise $2.65 billion.
In addition, the issuer can also over-allot 10.2 million shares within 30 days. This means that Nio will raise a maximum amount of $3.05 billion.
Prior to the issuance, William Li, the founder of Nio, held 11.5% of the shares and had 41.3% of the voting rights. Tencent holds 11.5% of the shares and 18.4% of the voting rights, while Baillie Gifford & Co holds 6.8% of the shares and 3.5% of the voting rights.
After this ADS offering, Li's shareholding drops to 11% with 40.5% of the voting rights. Tencent holds 11%, with 18% of the voting rights, while Baillie Gifford & Co holds 6.5%, with 3.4% of the voting rights.
After Tesla, Xpeng, and Li Auto, this is another new energy vehicle company joining the fundraising wave.
Nio 2020 raised a total of $435 million on February 6, February 14, and March 5.
Nio has also raised more than $2 billion in two additional offerings in June and August 2020, respectively.
Once Nio raises funds again, it means that Nio's fundraising this year will exceed $5 billion.
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