The EV upstart intends to grant the underwriters in the ADS offering a 30-day option to purchase up to an additional 9 million ADSs.
NIO EC6
The company plans to use the income obtained through the issuance of ADS mainly for the research and development, sales and service network expansion and market penetration of new products and next-generation autonomous driving technology, as well as general corporate purposes.
Morgan Stanley & Co. LLC and China International Capital Corporation Hong Kong Securities Limited will act as the underwriters for the ADS Offering.
Other than that yesterday fellow EV maker Xpeng also announced raising over USD 2 billion by Issuing 48 million ADSs.
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