NIO Inc. (NYSE: NIO) (“NIO” or the “Company”), a pioneer in China’s premium smart electric vehicle market, today announced the completion of the offering of 68,000,000 American depositary shares (the “ADSs”), each representing one Class A ordinary share of the Company (the “ADS Offering”), at a price of US$39.00 per ADS. The Company has granted the underwriters in the ADS Offering a 30-day option to purchase up to an additional 10,200,000 ADSs. On December 16, 2020, the Company received the exercise notice from the underwriters, pursuant to which the underwriters will exercise their option to purchase the additional 10,200,000 ADSs in full. The closing of the sale of the additional ADSs is scheduled on December 17, 2020.
Morgan Stanley & Co. LLC and China International Capital Corporation Hong Kong Securities Limited acted as representatives for the underwriters for the ADS Offering.
The ADSs have been offered under the Company’s shelf registration statement on Form F-3 (the “Form F-3”) which was filed with the Securities and Exchange Commission (the “SEC”) and automatically became effective on June 9, 2020. The ADS Offering has been made only by means of a prospectus supplement and an accompanying prospectus included in the Form F-3. The Form F-3 and the prospectus supplement are available at the SEC website at: http://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained from (1) Morgan Stanley & Co. LLC, Prospectus Department, 2nd Floor, 180 Varick Street, New York, NY 10014, United States of America, Attention: Prospectus Department; and (2) China International Capital Corporation Hong Kong Securities Limited, 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong.
The Company plans to use the net proceeds from the ADS Offering and the sale of the additional ADSs mainly for (i) research and development of new products and next generations of autonomous driving technologies, (ii) sales and service network expansion and market penetration and (iii) general corporate purposes.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
SOURCE: Nio
