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SHANGHAI, 4 January 2024: NIO Inc, a pioneer in premium smart electric vehicles, has revealed a significant update regarding its 0.00% Convertible Senior Notes due 2026. This announcement encompasses essential details for holders considering their options within the Repurchase Right.
Understanding the Repurchase Right
The company has extended an option to holders of the Notes to require NIO to repurchase all or a portion of their Notes, in integral multiples of USD 1,000 principal amount, for cash on February 1, 2024. This Repurchase Right, specified in the Indenture, expires on January 31, 2024, at 5:00 p.m., New York City time.
Procedure for Exercising the Repurchase Right
For holders seeking to exercise this right, NIO will file a Tender Offer Statement on Schedule TO in compliance with SEC rules. Detailed documents outlining the terms and conditions, available through the Depository Trust Company and The Deutsche Bank Trust Company Americas, assist holders in understanding the process.
Repurchase Terms and Conditions
Each holder can require NIO to repurchase their Notes, with the repurchase price equating to 100% of the principal amount, plus any accrued and unpaid additional interest until February 1, 2024, as per the Indenture’s terms and conditions.
Commencement and Withdrawal
The window for exercising the Repurchase Right starts on January 3, 2024, at 9:00 a.m., New York City time, and concludes on January 31, 2024, at 5:00 p.m., New York City time. Holders maintain the option to withdraw previously tendered Notes within the specified timeframe.
Important Considerations and Contacts
It’s crucial for holders to refer to the Indenture for comprehensive repurchase procedures and direct any inquiries about the process to The Deutsche Bank Trust Company Americas. Additionally, holders can obtain the Repurchase Right Notice from the paying agent for detailed guidance.
Note to Interested Parties
This news serves as informational and does not constitute an offer or solicitation. The actual offer to purchase the Notes will adhere strictly to the Repurchase Right Notice and related documents, commencing from January 3, 2024.
