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Share of Nio Inc. shed 1.8% in premarket trading Friday, after the China-based electric vehicle maker disclosed the offering of 1.68 million shares by selling stockholders. In and S-1 filing with the Securities and Exchange Commission late Thursday, Quasar Energy Partners LLC, Philipp Brothers Fertilizer LLC and Little Brothers LLC are selling off their entire stakes in Nio, totaling 1,682,267 shares, representing 0.4% of the shares outstanding and valued at $77.5 million at Thursday’s closing price of $46.07.
...read full article on Market Watch
