SoCalGuy· Premium Member
Discussion Starter · #1 ·
By my calculus, that would mean Fisker now has over $300M in cash on-hand…
Also, in the same filing, they said they've increased their targeted raise from $300M to $500M (with the latest raise, they've totaled $392M in this round).Fisker Surpasses $1 Billion in Funding With New Investment
By Andrew Herndon - Apr 2, 2012 1:07 PM ET
Fisker Automotive Inc., a maker of plug-in hybrid sports cars, got financing that increases its funding to $1.025 billion.
The company disclosed the $129 million investment in a filing today that didn’t identify investors. It said in February it had received $263 million as part of the same financing round and at the time had $896 million in total private funding.
Fisker, based in Anaheim, California, is working to fix a defect in its Karma sedan as it seeks to resume work on a stalled plant in Delaware, where it is using $529 million in government loans to build a second model. The company is backed by investors including Kleiner Perkins Caufield & Byers, Palo Alto Investors LLC and the lithium-ion battery maker A123 Systems Inc. (AONE)
A123 said March 26 it was replacing defective batteries that caused a Karma to shut down in a Consumer Reports test. The U.S. Energy Department in February froze Fisker’s access to the loans, causing the company to “temporarily” stop work on a plant in Delaware.
To contact the reporter on this story: Andrew Herndon in San Francisco at [email protected]