NIO Announces Additional US$100 Million Private Placements of Short-term Convertible Notes

SHANGHAI, China, Feb. 14, 2020-- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China's premium electric vehicle market, today announced that it has entered into definitive transaction documents with two unaffiliated Asia-based investment funds (the “Purchasers”), pursuant to which NIO will issue and sell convertible notes in an aggregate principal amount of US$100 million to the Purchasers through private placement. The closings of both placements are subject to satisfaction of customary closing conditions and are expected to occur on or prior to February 19, 2020.

In light of the Company's recent financing transactions, the combined aggregate principal amount of the convertible notes issued in all private placements announced so far in 2020 will reach US$200 million once fully completed.

The notes to be issued to the Purchasers bear zero interest and mature on February 4, 2021. Prior to maturity, the holder of the notes has the right to convert either all or part of the principal amount of the notes into Class A ordinary shares (or ADSs) of the Company (a) from the date that is six (6) months after the issuance date, at a conversion price of US$3.07 per ADS, or (b) upon the completion of a bona fide issuance of equity securities of the Company for fundraising purposes, at the conversion price derived from such equity financing.

The Company is currently working on several financing projects, the outcome of which is uncertain at this stage. The Company will announce any material developments or information subject to the requirements by applicable laws.