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The latest announcement is out from Fisker (FSR).
Fisker, a company navigating financial headwinds, has secured a commitment for financing through the sale of $166.67 million in senior secured convertible notes. These notes will be issued at a 10% discount, raising up to $150 million. Investors can convert the notes to Class A common stock at any time, and the notes mature by the end of July 2024 or upon certain triggering events. Fisker aims to bolster its cash position through this strategic move, as it faces substantial doubt about its ability to continue as a going concern. The company’s financial stability hinges on additional funding, a partnership with an OEM, and successful vehicle sales. This financing deal is pivotal as Fisker confronts potential delisting from the NYSE and seeks to navigate through its liquidity challenges and operational commitments.
Learn more about FSR stock on TipRanks’ Stock Analysis page.
