Written by Cláudio Afonso | LinkedIn | X
On Monday, Fisker announced in an 8k filing with the SEC, the completion of a deal to sell senior secured notes due 2024 to an existing institutional investor, raising $3.456 million.
The offering carries the potential to raise the aggregate principal amount of the notes to $7,500,000. Wrapped up on May 10, it marks a significant financial move for the company as it seeks investment to restart production and launch new products such as Fisker Pear and the pick-up truck Alaska (known as Kayak in Europe).
The company said it intends to use the proceedings to finance various expenses in line with the budget approved by the investor adding that these senior secured notes are set to mature on June 24, 2024.
Earlier today, Fisker announced it sold out all the inventory units from the Sport trim of its first model, the SUV Ocean, in the US.
The company also reported that it is adding three new dealership locations of which two are in California (Newport in Orange County and San Jose) and one in New Jersey. With this addition, Fisker reaches a total of 15 dealers in the US.
These new dealerships will be operational soon, offering authorized sales of Fisker vehicles, the EV startup said.
Since January, the company has been switching its business model from direct sales to a dealer partnership model. Earlier this month, the company closed its showroom in New York as part of the transition.
Last Friday, the automaker shared eight pictures of new customers picking up its car in a dealership stating the customer base is growing.
In mid February, Fisker said over 250 dealers in “North America and the rest of the world ” showed interest in selling its first production model Fisker Ocean.
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In late March, the startup started considerable discounts on the 2023 inventory with the Extreme variant now starting at $37,499 (down from $61,499), the Ultra variant starting at $34,999 (from $52,999), and the Sport’s one at $24,999 (from $38,999).
Fisker announced last week, via a SEC filing, that has an agreement reached with an investor to extend the deadline until this Friday, May 17.
Last week Fisker’s entity in Austria (Fisker GmbH) announced that it had voluntarily filed to open a restructuring proceeding via self-administration under the Austrian Insolvency Code.
This proceeding will allow Fisker Austria to continue its operations under court protection, including paying employees and selling vehicles, while it pursues a strategic transaction or other sale of assets.
Written by Cláudio Afonso | LinkedIn | X
