Credit: Fisker

Fisker announces $350M At-the-Market Equity Program to develop PEAR Model

Written by Cláudio Afonso | | LinkedIn | Twitter

Fisker announced on Tuesday that it has entered into an at-the-market distribution agreement intending to use the net proceeds that it receives for the development of the Fisker PEAR and additional vehicle development, retail development, additional technology development and general corporate purposes.

The program will result in aggregate gross proceeds to Fisker of up to $350 million by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415 of the Securities Act of 1933.

Since the Class A Common Stock will be distributed at market prices prevailing at the time of the sale, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of Fisker’s management and in accordance with the terms of the Distribution Agreement, Fisker stated.

Last Saturday, Fisker unveiled that the prototypes of its upcoming model Fisker Ocean rolled off the production line at the Graz factory in Austria. The EV maker said that the trial production vehicles will be used for safety and performance tests and the first deliveries are expected to begin in November 2022.

“Fisker Ocean prototypes are coming off the line at the carbon-neutral factory in Graz, Austria, for safety and performance trials. Getting ready for on-time start of production and first deliveries starting in November!,” the company said via Instagram.


On the last day of March, the EV maker announced that had exceeded 40,000 initial reservations for the Fisker Ocean SUV. The company will open pre-order reservations for the limited-edition Fisker Ocean One on July 1, 2022, due to anticipated demand. Fisker does not expect to raise prices because of inflationary or commodity-cost pressures through 2023.

Apple TV show Tehran featured, on the first episode of the second season, a Fisker Karma model. The episode of Emmy Award winning series went online on May 6 and Henrik Fisker quickly reacted on his Instagram account saying: “If you are looking for someone to design your new car, give us a shout!””

Last week, Henrik Fisker unveiled that the Project RONIN is a 4 door convertible targeting 600 mile range. Henrik also disclosed that the model will feature 3 motors and reach 0-60mph “close to 2 seconds”.

On the same day that announced its third EV model, Fisker released its Q1 2022 Financial Results evening followed by a Conference Call. Henrik Fisker unveiled high ambitions for the upcoming PEAR model saying that the three derivatives will enable the company to sell “a million PEARs a year sometime in 2027”.

Fisker CEO commented on his the announcement of the new model: Project Ronin that will be unveiled in August 2023. The GT will feature unique doors for better ingress and egress and a luxurious, sustainable vegan interior that plots a new, advanced design direction.

Written by Cláudio Afonso | | LinkedIn | Twitter