Fisker Shareholder Forum
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Topic starter
February 6, 2023 12:00 pm
New 8-K filing today as Fisker tries to sort out its Charter. I'm sure I missed something, but here are a few updates from the company's filing:
- Capital needs will "increase significantly" in early 2023.
- Fisker says it will begin producing sellable vehicles in March 2023.
- Fisker raised approximately $77.5 million in Q4 2022 using their $350 million at-the-market (ATM) equity program. $156.5 million remains on the ATM equity program. (Based the $116 million the company said it raised to date in Q3 2022.)
The Company’s business is high-growth and capital-intensive, and its capital needs will increase significantly early this year. The Company anticipates that it will begin producing sellable vehicles in March of this year with a corresponding ramp in production.
As noted above, the Company has an existing arrangement with J.P. Morgan Securities LLCand Cowen and Company LLC to issue Class A Common Stock pursuant to its At-the-Market Offering Program. There is approximately $150 million remaining in that program.
22,517,941 shares have been issued, for gross proceeds totaling $193.5 million in cash.
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February 6, 2023 12:21 pm
Are they issuing more stock to raise capital?
February 6, 2023 12:59 pm
Man, I hope not - enough dilution as it is. Canoo just announced they are adding 50mil more shares at just a little over $1/share to raise about 52mil. Next step for them probably share price drop to penny stock range and delisting. I don't want to see this happen to Fisker too.
Topic starter
February 6, 2023 3:02 pm
No expert here, and I don't know the ins and outs of merging with a SPAC, but it appears Fisker/Spartan are trying to get their second amended and restated certificate of incorporation (Charter) validated by the Court of Chancery. Unsure why this popped up now?
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Topic starter
February 20, 2023 10:53 am
Waiting for the outcome of the hearing, which should have already happened today regarding the technicality (11:45am ET). Filing should be posted here when we have the official word. Since markets are closed today I wonder if this filing will get published tomorrow?
https://investors.fiskerinc.com/financials/sec-filings/default.aspx
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