NIO (NIO) Closes $1B Notes Offering

NIO Inc. (NYSE: NIO) today announced the closing of its offering of US$500 million in aggregate principal amount of convertible senior notes due 2029 (the “2029 Notes”) and US$500 million in aggregate principal amount of convertible senior notes due 2030 (the “2030 Notes,” and, together with the 2029 Notes, the “Notes”) (the “Notes Offering”). The Notes were sold to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

The Company has granted the initial purchasers in the Notes Offering an option, exercisable within a 30-day period beginning on, and including, the date of the Notes Offering, to purchase up to an additional US$75 million in aggregate principal amount of the 2029 Notes and up to an additional US$75 million in aggregate principal amount of the 2030 Notes.

Shortly after the pricing of the Notes, the Company purchased, in separate privately negotiated transactions effected through one of the initial purchasers and its affiliates, approximately US$256 million aggregate principal amount of the Company’s outstanding 0.00% convertible senior notes due 2026 and approximately US$244 million aggregate principal amount of the Company’s outstanding 0.50% convertible senior notes due 2027 for cash using the net proceeds from the Notes Offering. The Company plans to use the remainder of the net proceeds from the Notes Offering mainly to further strengthen its balance sheet position as well as for general corporate purposes.

The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby, have not been and will not be registered under the Securities Act or securities laws of any other places. They may not be offered or sold, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

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