Fisker discloses notice of automaker terminating transaction talks

In a regulatory 8-K filing, the company states: “After the market closed on March 22, 2024, Fisker received notice from the large automaker with which the Company had been in negotiations for a potential transaction that the automaker terminated the negotiations. Following such termination, the Company continues to evaluate strategic alternatives. Such alternatives may include in or out of court restructurings, capital markets transactions, repurchases, redemptions, exchanges or other refinancings of its existing debt, the potential issuance of equity securities, the potential sale of assets and businesses and/or other strategic transactions and/or other measures. These alternatives involve significant uncertainties, potential significant delays, costs and other risks, and there can be no assurance that any of these alternatives will be available on acceptable terms, or at all, in the current market environment or in the foreseeable future. As a result of the termination of discussions with the automaker, the Company will not be able to meet a closing condition to the financing commitment and term sheet the Company entered into with an investor on March 18, 2024. As a result of the inability to meet such closing condition, the Company intends to engage in discussions with the Investor regarding a waiver of such closing condition. These alternatives involve significant uncertainties, and there can be no assurance that any of these discussions will be successful or that any funds will be available to the Company under the Commitment.”