– FiskerInc.( NYSE FSR)(” Fisker”), driven by a charge to produce the world’s most
emotional and sustainable electric vehicles, moment blazoned the signing of a securities purchase agreement in
connection with its intention to offer( the “ Offering ”)$ in aggregate top quantum of 0 elderly
relaxed convertible notes due 2025( the “ Notes ”) to an institutional investor( the “ Investor ”), with the eventuality to
increase the aggregate star quantum of the Notes to$. The Notes have an original issue reduction
of roughly 12, performing in gross proceeds of$ to Fisker. Fisker has also granted the Investor
the right to buy up to a fresh$ in aggregate top quantum of Notes during a six-month
period beginning on the one-time anniversary of the ending date of the Offering. If the Investor exercises a similar right
in full, Fisker can exercise a right to bear the Investor to buy a fresh$ in aggregate
top quantum of fresh Notes.
Fisker intends to use the net proceeds that it receives from the Offering for general commercial purposes, including
working capital, a fresh battery pack line to support growth in 2024 and further, deals and marketing, capital
expenditures, and the development of unborn products.
All quantities due under the Notes are convertible at any time, in whole or in part, at the Investor’s option, into
Fisker’s Class A common stock, par value$0.00001 per share, at the original conversion price of$7.80, which
conversion price is subject to certain limitations.
The Offering is anticipated to close on July 11, 2023, subject to the satisfaction of customary ending conditions.
TD Cowen served as exclusive fiscal counsel to Fisker and Orrick, Herrington & Sutcliffe LLP served as legal
counsel to Fisker.
The securities are being offered pursuant to an effective shelf enrollment statement on Form S- 3( train no. 333-
261875) that Fisker preliminarily filed with theU.S. Securities and Exchange Commission( “ SEC ”). The immolation will
be made only by means of a written prospectus supplement and the accompanying prospectus that form a part of
the enrollment statement. An electronic prospectus supplement and the accompanying prospectus relating to the
immolation will be filed with the SEC. clones of the prospectus supplement and the accompanying prospectus relating
to these securities will be available on the SEC’s
