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NIO Prices $1B Equity Offering to Fund EV Expansion, Shares Drop 10%
NIO Prices $1B Equity Offering to Fund EV Expansion, Shares Drop 10%
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BTCCSquare news:
Nio Inc. (NIO) shares tumbled nearly 10% following the announcement of a $1 billion equity offering priced at an 11% discount. The Chinese electric vehicle Maker set the offering at $5.57 per ADS, with Morgan Stanley, UBS, and Deutsche Bank underwriting the deal. Proceeds will fuel R&D for smart EV technologies and battery-swapping infrastructure.
The capital raise comes despite NIO's 68% stock surge over the past quarter, driven by record deliveries and Optimism around new mass-market brands. The dilution concerns from adding 182 million new shares overshadowed these fundamentals.
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