XPeng Inc. (XPEV) Prices 48M ADS Offering at $45/Each

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced the pricing of its underwritten follow-on offering of 48,000,000 American Depositary Shares (“ADSs”), each representing two Class A ordinary shares of the Company, at a public offering price of US$45.00 per ADS. The underwriters will have a 30-day option to purchase up to an aggregate of 7,200,000 additional ADSs from the Company. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, will be approximately US$2.2 billion, excluding any exercise of the underwriters’ option to purchase additional ADSs. The offering is expected to close on December 11, 2020, subject to customary closing conditions.

The Company expects to use the net proceeds from the offering for (i) research and development of its Smart EVs and software, hardware and data technologies, (ii) sales and marketing and expansion of sales and service channels and super charging network, as well as the expansion of its footprints in the international markets, (iii) potential strategic investments in core technologies of Smart EV, and (iv) general corporate purposes, including working capital needs.

Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as the joint bookrunners for the offering.

The Company’s registration statement on Form F-1 relating to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission.

You May Also Be Interested In

• XPeng Inc. (XPEV) Plans To Launch Humanoid Robot Globally Next Year - WSJ
• ECARX raises convertible note capacity to $130M, adds $15M subscription
• Huadi International gets Nasdaq minimum bid price deficiency notice