On September 17, NIO (NIO.N) released a statement announcing the completion of a substantial equity financing round, securing $1.16 billion. This financing was achieved through the issuance of 161 million American Depositary Shares (ADSs, where each ADS represents one Class A ordinary share), along with 20.995 million Class A ordinary shares. Additionally, an extra 27.2727 million ADSs were issued following the full exercise by underwriters of their option to purchase additional ADSs, an option that was set to expire on September 10, 2025. The ADSs were offered to the public at a price of $5.57 per share, whereas the Class A ordinary shares were priced at HK$43.36 each. NIO intends to allocate the net proceeds from this financing towards advancing the research and development of core technologies essential for smart electric vehicles, fostering the development of future technology platforms and vehicle models under its brands, expanding its battery swap network infrastructure, bolstering its financial position through balance sheet strengthening, and meeting general corporate needs.