Fisker confirms talks with large automaker, secures $150M financing commitment from existing investor
Mar. 18, 2024 8:28 AM ETFisker Inc. (FSR) StockBy: Clark Schultz, SA News Editor6 Comments
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Electric vehicle maker Fisker (NYSE:FSR) announced a financing commitment from an existing investor that will provide the company up to $150M of gross proceeds. The financing is being provided by the holder of the company’s 2025-dated convertible notes and will be organized in four tranches.
Fisker (FSR) also updated that it is continuing negotiations with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing. It was noted that the closing of any transaction would be subject to satisfaction of important conditions, including completion of due diligence and negotiation and execution of appropriate definitive agreements.
Shares of Fisker (FSR) stood at $0.176 in premarket trading on Monday vs. the 52-week high of $7.22.
