NIO Investors Rattled As EV Maker Issues Massive Equity Offering

Group 1 - NIO Inc. plans to raise capital through an equity offering of up to 181.8 million Class A ordinary shares, with underwriters having a 30-day option for an additional 27.3 million ADSs [1][3] - Proceeds from the offering will be used for R&D in smart EV technologies, new vehicle platforms, and expansion of battery-swapping and charging infrastructure [2][3] - The capital raise follows a year-to-date share price increase of over 44%, despite recent share price declines [4][7] Group 2 - In the latest quarter, NIO reported revenue of 19.01 billion yuan ($2.65 billion), a 9% increase year-over-year, but below analyst expectations [4] - Vehicle deliveries in Q2 totaled 72,056, marking a 26% year-over-year increase and a 71% sequential increase, with gross margin improving to 10% [5] - NIO's guidance for Q3 deliveries is between 87,000 to 91,000 vehicles, with projected revenue of 21.81 billion to 22.88 billion yuan ($3.05-$3.19 billion), which is below Wall Street's consensus [6]