Fisker (NYSE:FSR) stock is a hot topic among traders on Tuesday morning after the electric vehicle (EV) company announced the closing of a convertible notes offering.
A press release from the EV company revealed that it completed the $170 million offering of 0% senior unsecured convertible notes due 2025. These notes were sold to an institutional investor.
Fisker points out that the senior convertible notes were sold to that investor with a 12% discount. As such, the gross proceeds from the sale come in at $150 million instead of the full $170 million that the notes are worth.
Investors will also note that the notes were sold as part of a Securities Purchase Agreement that was amended. With this amendment, the company can still sell another $623,333,334 of 0% senior unsecured convertible notes. Yet again, this would be at a 12% discount, so it would see gross proceeds of $550 million from the sale.
Recent FSR Stock Movement
The convertible notes offering was originally announced yesterday and saw shares close out up 3.1%. That came with some 9 million shares changing hands, as compared to its daily average of just under 9 million shares.
As for today’s stock market movement, only around 10,000 shares have been traded as of this writing. With that comes a slight drop in the price of FSR stock today.
Investors looking for even more of the most recent stock market stories are going to want to stick around!
InvestorPlace is home to all of the latest stock market coverage traders need to know about on Tuesday! Among that is what’s happening with shares of SmileDirectClub (NASDAQ:SDC), Aerwins Technologies (NASDAQ:AWIN) and AgileThought (NASDAQ:AGIL) stock today. All of that news is ready to go at the links below!
More Tuesday Stock Market News
- Why Is SmileDirectClub (SDC) Stock Down 25% Today?
- Why Is Aerwins Technologies (AWIN) Stock Down 18% Today?
- Why Is AgileThought (AGIL) Stock Up 16% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
