Kirkland Advises NIO Inc in US$1.16 Billion Equity Offering

Kirkland & Ellis advised NIO Inc. (NIO) (NYSE: NIO; HKEx: 9866; SGX: NIO) in connection with its US$1.16 billion equity offering (the Equity Offering), which completed on September 17, 2025.

The Equity Offering consists of an offering of American depository shares (ADSs), each representing one Class A ordinary shares of NIO, an offering of Class A ordinary shares in Hong Kong, and an offering of ADSs pursuant to the underwriters’ full exercise of their option to purchase additional ADSs.

NIO currently plans to use the net proceeds from the Equity Offering to invest in the research and development of core technologies for smart electric vehicles, develop future technology platforms and vehicle models across its brands, expand its battery swapping and charging network, further strengthen its balance sheet, and for general corporate purposes.

Morgan Stanley Asia Limited, UBS Securities LLC, UBS AG Hong Kong Branch and Deutsche Bank AG, Hong Kong Branch acted as representatives for the underwriters for the Equity Offering.

The Kirkland team included capital markets lawyers Mengyu Lu, George Zheng, Justin Zhou, and Patty Zhu.