Fisker Stock Rises Despite $170M Fundraising That May Dilute Shareholders

Fisker (FSR) stock rose Friday despite announcing plans to raise $170M through convertible notes, which may dilute investors.
The 0% interest notes are sold at a 12% discount and convertible to stock at $7.60 per share.
Fisker says the funds will help accelerate growth and EV programs like the Ocean SUV.
Share dilution from convertible note offerings typically pressure stock prices.
Fisker ended Q2 with $521.8M cash on hand and plans to launch several new EVs, which will be costly.

electrek.co

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