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Prospect News home > News index > List of issuers N > Headlines for Nio Inc. > News item |
Nio to exchange $581.7 million of 4.5% convertibles to ADS
By Taylor Fox
New York, Jan. 13 – Nio Inc. expects to enter into one or more separate and privately negotiated agreements with holders of its outstanding 4.5% convertible senior notes due 2024 to exchange $581.7 million of the notes for American Depository Shares, according to a news release.
The terms of each 2024 notes exchange are anticipated to be individually negotiated with each holder of the 2024 notes to be exchanged and will depend on several factors, including the market price of the ADSs and the trading price of the 2024 notes at the time of each exchange.
Nio is a Shanghai-based electric car manufacturer.
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