09:55 AM EDT, 09/10/2025 (MT Newswires) -- NIO (NIO) said Wednesday it priced a $1 billion offering of 181.8 million shares, consisting of American depositary shares at $5.57 each and Hong Kong-listed shares at 43.36 Hong Kong dollars ($5.57).

The ADS portion is expected to close on Thursday, while the Hong Kong share sale is scheduled to close Sept. 17, the company said.

Underwriters have a 30-day option to buy up to 27.3 million additional ADS, NIO said.

The company said it plans to use the net proceeds for research and development of electric vehicle technology, new models, expansion of its charging and battery swap network, and other general purposes.

Shares of the company were down 9.8% in recent Wednesday trading.

Price: 5.67, Change: -0.62, Percent Change: -9.79