糖心视频

After pricing yesterday at the low-end of its range, opened lowered today, struggling in early trading. The young Chinese company makes and sells electric cars.

Follow Crunchbase News on

Raising $1.0 billion in its public debut, NIO has now raised around $3.5 billion including .

NIO’s slow opening trades were presaged by the company’s IPO pricing process. The company priced its IPO at $6.26 per share, the low end of its proposed range. NIO opened at $6.00 and has dipped under $5.70 before recovering. NIO shares are worth $6.00 once again as of the time of writing.

Per , NIO sold 160 million shares in its debut. The company’s underwriters have the option by pick up another 24 million shares if they wish. If NIO’s underwriters do exercise that option, the company could raise an additional $150.24 million.

NIO may need the money. It has an extremely limited operating history as a revenue-generating entity, making its ramp to profitability completely opaque; how much runway it will need to reach financial stability is not clear.

Regardless, a company with effectively no revenue managed to raise $1 billion today, so if you hear any codswallop from your local unicorn about the market not being ready for its IPO, just giggle at them.

滨濒濒耻蝉迟谤补迟颈辞苍:听