Nio denied 'media speculations' that it was considering another capital raise, but the stock sank toward the lowest prices seen in more than three months.
Nio Inc. denied “media speculations” that it was considering another capital raise, but the stock still sank to the lowest prices seen in more than three months.
That capital raise would be in addition to the $1 billon convertible-debt offering that closed on Monday and would come a couple of months after Nio closed a $738.5 million equity investment from CYVN Holdings LLC, which is controlled by the Abu Dhabi government.After the Bloomberg report, Nio’s stock dropped as much as 7% to an intraday low of $7.93, the lowest price seen since June 9, before paring losses to be down 2.8% in morning trading following the company’s denial.
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