Fisker Shareholder Forum
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Topic starter
September 29, 2023 8:12 AM
Fisker just shared plans to raise $170 million by offering convertible notes to an existing investor. The notes have no interest and mature in 2025. With a discount, Fisker expects to get $150 million from this. Thanks to a recent agreement change, they can potentially raise an additional $623 million, with a similar discount, resulting in up to $550 million. This comes after a previous offering of $340 million in convertible notes in July 2023. The funds will help Fisker speed up deliveries, grow, and push forward with vehicle programs.
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Fisker Brat reacted
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September 29, 2023 8:21 AM
At 12% discount you basically pay interest upfront. It is a "The stock goes up, I cash in, the stock goes down, I cash in" kind of deal. Why is Fisker doing these deals when they have that huge pile of cash?
Topic starter
October 2, 2023 7:48 AM
At 12% discount you basically pay interest upfront. It is a "The stock goes up, I cash in, the stock goes down, I cash in" kind of deal. Why is Fisker doing these deals when they have that huge pile of cash?
Back in my startup days, which were on a smaller scale, I learned the wisdom of securing funding when you're not desperate for it. That's when the terms are most favorable, and it seems like that's the situation here!
https://finance.yahoo.com/news/fisker-announces-successful-closing-170-104500625.html
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