September 14, 2021
Nio Inc (Nio), a leading company in the premium smart electric vehicle market in China, has announced it has filed a prospectus supplement to sell up to an aggregate of US$2 billion of its American depositary shares (ADSs), each representing one Class A ordinary share of the company, through an at-the-market (ATM) equity offering program. Nio plans to use the net proceeds to further strengthen its balance sheet and for general corporate purposes.
Latham & Watkins advised the sales agents in the transaction comprising Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, Nomura Securities International, Inc. and Guotai Junan Securities (Hong Kong) Limited.
The deal team was led by Hong Kong partners Allen Wang and Dominik Sklenar with counsel Wei Wei.
NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries.