11:54 AM EDT, 03/18/2024 (MT Newswires) -- Fisker ( FSR ) said Monday that a holder of 2025-dated convertible notes has committed to provide financing of up to $150 million, issued in four tranches, and the company will pause production for six weeks to align inventory levels.

The company also said it's in talks with a large automaker for a potential deal to develop electric vehicle platforms and to manufacture in North America.

Shares of Fisker ( FSR ) dropped nearly 14% in recent trading.

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