NIO (NYSE:NIO) on Wednesday announced the pricing of its $1 billion offering relating to a total of 181.81M Class A ordinary shares of the company, which consists of an offering of American depositary shares, each representing one Class A ordinary share of the company, and an offering of Class A ordinary shares.
The ADSs are offered at a public offering price of $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 close the ADS offering on or about September 11 and close the ordinary share offering on or about September 17.
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 and for general corporate purposes, among others.
