Electric Vehicle Startup Fisker Sells $340 Million in Unsecured Convertible Notes


1 minute read | July.13.2023

Fisker has closed on $340 million in unsecured convertible notes with an original issue discount of 12 percent, resulting in $300 million in gross proceeds to support its continued growth.

Orrick represented Fisker.

THE COMPANY

Based in California, Fisker Inc. seeks to create “the world’s most sustainable and emotional electric vehicles.” The company is “revolutionizing the automotive industry by designing and developing individual mobility in alignment with nature.”

THE IMPACT

Fisker intends to use net proceeds from the offering for general corporate purposes, including working capital, an additional battery pack line to support growth, sales and marketing, capital expenditures and product development.

THE TEAM

The Orrick team that advised Fisker includes Albert Vanderlaan, Soo Hwang, Tom Sanford, Whitney Rosser, Elitsa Angelova and Peter Elias.

LEARN MORE

Fisker news release

Read More Orrick Client Results