Nio is notifying holders of its 4.50% Convertible Senior Notes due 2024 that pursuant to the Indenture dated as of February 4, 2019 relating to the Notes by and between NIO and The Bank of New York Mellon, each holder has the right to require the Company to repurchase all of such holder’s Notes or any portion thereof that is an integral multiple of $1,000 principal amount for cash on February 1, 2022 (the “Repurchase Right”).
The Repurchase Right expires at 5:00 p.m., New York City time, on Friday, January 28, 2022. As required by rules of the U.S. SEC, the Company will file a Tender Offer Statement on Schedule TO. As of December 30, 2021, there was $165,291,000.00 in aggregate principal amount of the Notes outstanding. If all outstanding Notes are surrendered for repurchase through exercise of the Repurchase Right, the aggregate cash purchase price will be US$165,291.000.00.
A senior notes offering refers to the sale of senior notes by a company seeking to raise money from investors. Typically, the announcement of a senior notes offering is accompanied by a legal disclosure of the amount the company is seeking to raise, and what the company plans to do with the money.
Read the full release here.