Fisker News Large Fisker Gathering & Decrease in Debt

Fisker Inc., held a global meetup of owners that brought together approximately 2,500 current owners and prospective customers on two continents this past weekend.The company also announced it filed Form 8-K with the Securities and Exchange Commission regarding amendments with its 2025 convertible notes investor.

Fisker Meetup

“This meetup exceeded our expectations,” Chairman and CEO Henrik Fisker said. “It was fantastic to see such a robust turnout, with some owners defying winter weather in parts of the US to connect with each other. I am also thrilled that we could extend the event to Europe, where we have many enthusiastic owners and where we sold our first Oceans in 2023.”

Fisker held the nationwide meetup in the US on January 20 in cooperation with Fiskerati.com, a website that provides news and information about the Fisker and the electric-mobility industry.

In Europe, Fisker organized meetups at several of its Center + locations. These Center + locations showcase Fisker vehicles, conduct test drives and deliveries, and provide service.

In total, owners and prospective customers gathered at 24 locations in the US and six in Europe to share their experiences with the Fisker Ocean SUV, enjoy refreshments provided by Fisker, collect Fisker merchandise, and interact with Fisker team members. During this time, owners expressed significant interest about future features and models, including the recently announced Fisker Ocean Extreme Monterey Edition, a luxury addition to the Ocean lineup; the Fisker Alaska pickup truck; the Fisker PEAR crossover. Over the course of the day, Fisker conducted hundreds of test drives at multiple locations.

Fisker Files 8-K

Fisker Inc.filed a Form 8-K with the Securities and Exchange Commission regarding amendments with its 2025 convertible notes investor.

Among other matters set forth in the filing, Fisker and the investor agreed that upon a definitive agreement with a strategic OEM partner, any liens on intellectual property would be released, further enabling the company to pursue strategic collaborations. Additionally, the amended agreement waives all financial covenants with respect restricted cash used for operations.

As of January 19, 2024, Fisker’s outstanding debt under its 2025 convertible notes has been reduced by $185.5 million to $324.5 million from an aggregate originally issued amount of $510.0 million. This reduction reflects the conversion of a portion of 2025 notes to equity by the investor.

“I am pleased that we were able to reach an agreement with one of our investors that will provide increased flexibility and better position us to execute on potential strategic business deals,” Chairman and CEO Henrik Fisker said.