11:27 AM EDT, 03/28/2024 (MT Newswires) -- VinFast Auto ( VFS ) Friday filed a preliminary registration statement for up to 5.1 million of its ordinary shares that would be issued to Yorkville Advisors following the conversion of a $50 million convertible debenture.

The New Jersey-based institutional investor and VinFast signed a securities purchase agreement on Dec. 29, with the electric vehicle manufacturer receiving $48.75 million in cash in exchange for the convertible debt instrument maturing July 1 and convertible into VinFast ordinary shares at $10 apiece.

VinFast will not receive any additional proceeds if Yorkville decides to sell some or all of its shares, the company said.

VinFast Shares recently were 5% higher in Thursday trading.

Price: 4.95, Change: +0.22, Percent Change: +4.55