Fisker Secures $150M Financing Commitment, Pauses Production

March 18, 2024
Executives say they are still in talks with an OEM about a ‘potential transaction.’

Fisker Inc. officials announced Monday that they have received a financing commitment from one of the electric vehicle maker’s investors for a sale of up $167 million in senior secured convertible debt. After a 10% original issue discount, the company’s proceeds will be $150 million.

The announcement comes a few weeks after executives warned the company didn’t have enough cash to continue operating. Last week, the Wall Street Journal reported that Fisker was preparing for a potential bankruptcy filing by retaining restructuring advisors, financial advisor FTI Consulting, and law firm Davis Polk.  

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