NIO Inc announced that its $1 billion stock offering has been priced at $5.57 per ADS, representing an 11 percent discount to the previous trading day's closing price of $6.28.
The company expects to complete the American Depositary Share offering around September 11 and the ordinary share offering around September 17.
US-listed shares of NIO tumbled 10.8% in morning trading.
Below is its statement.
NIO Inc. Announces Pricing of US$1 Billion Equity Offering
NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the global smart electric vehicle market, today announced the pricing of its US$1 billion offering (the “Equity Offering”) relating to a total of 181,818,190 Class A ordinary shares of the Company, which consists of an offering of American depositary shares (“ADSs”), each representing one Class A ordinary share of the Company (the “ADS Offering”), and an offering of Class A ordinary shares of the Company (the “Ordinary Share Offering”).
The ADSs are offered at a public offering price of US$5.57 per ADS. The Class A ordinary shares are offered at an offering price of HK$43.36 per Class A ordinary share. The Company expects to (i) close the ADS Offering on or about September 11, 2025; and (ii) close the Ordinary Share Offering on or about September 17, 2025, subject to customary closing conditions. In addition, the Company has granted the underwriters in the Equity Offering a 30-day option to purchase up to an additional 27,272,728 ADSs, which, if exercised, will be settled solely in ADSs.
The Company currently plans to use the net proceeds from the Equity Offering to invest in the research and development of core technologies for smart electric vehicles, develop future technology platforms and vehicle models across its brands, expand its battery swapping and charging network, further strengthen its balance sheet, and for general corporate purposes.
Morgan Stanley Asia Limited, UBS Securities LLC, UBS AG Hong Kong Branch and Deutsche Bank AG, Hong Kong Branch are acting as representatives for the underwriters for the Equity Offering.
The ADSs and Class A ordinary shares are offered under the Company’s shelf registration statement on Form F-3 which was filed with the Securities and Exchange Commission (the “SEC”) and automatically became effective on May 21, 2024. A preliminary prospectus supplement related to the proposed Equity Offering has been filed with the SEC. The registration statement on Form F-3 and the preliminary prospectus supplement are available at the SEC website at: http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from (1) Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department; (2) UBS Securities LLC, 1285 Avenue of the Americas, New York, NY 10019, Attention: Prospectus Department; and (3) Deutsche Bank AG, Hong Kong Branch, Level 60, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong.