FX.co ★ Fisker Stock Falls On Termination Of Investment Deal By Large Automaker

Fisker Inc., a renowned automaker, publicized on Monday that its highly anticipated agreement with a significant automaker has faltered. This agreement concerned investments in Fisker, collaborative development of electric vehicles, and the manufacture of those cars in North America.

In response to this setback, Fisker has disclosed that it is exploring alternative strategies. These involve repurchases, redemptions, potential asset and business sales, court-ordered restructurings, and the possible issuance of equity securities. This is aimed at fulfilling the closing conditions with investors needed to secure funding of up to $150 million. The funds are to be raised through selling convertible notes which will be due in 2025.

Upon the release of this announcement, Fisker's stock experienced a significant fall of 28.13 percent, resulting in a price of $0.0897 on the New York Stock Exchange.