The EV maker's scale of additional issuance has increased to 48 million ADS.
auto
XPeng could sell up to an additional 7.2 million shares if the underwriters of the offering exercise all of the options granted to cover overallotments. That could boost what XPeng raises to roughly USD 2.5 billion.
Before deducting discounts and commissions from the underwriters and other issuance expenses, the total amount of funds raised in the issuance is approximately USD 2.1 billion.
The funds raised this time will be used for the following aspects: research and development of smart electric vehicles and software, hardware and data, sales and marketing, expansion of sales and service channels and supercharging networks, expansion of the international market, potential strategic investment, etc.
Credit Suisse, JPMorgan Chase, Bank of America and Citigroup acted as joint underwriters of this offering.
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