Fisker Stock Falls On Termination Of Investment Deal By Large Automaker

(RTTNews) - Automaker Fisker Inc. (FSR) announced on Monday that its potential deal with a large automaker regarding investments in Fisker, joint development of electric vehicles and North America manufacturing, has collapsed.

The company said that it is considering other alternatives such as repurchases, redemptions, potential sale of assets and businesses, court restructurings, and potential issuance of equity securities, to meet closing conditions with an investor, related to raising up to $150 million in funding by selling convertible notes due 2025.

Following the announcement, Fisker's stock is falling 28.13 percent, to $0.0897 on the New York Stock Exchange.