Li Auto Inc., a leader in China's new energy vehicle market, has announced a tender offer statement for the repurchase of its 0.25% Convertible Senior Notes due 2028. The offer, filed with the SEC, obligates the company to purchase the notes if properly tendered by the holders under the terms and conditions set forth in the Put Option. The Put Right Notice, dated March 27, 2024, specifies that holders can sell their notes back to the company at 100% of the principal amount, plus accrued and unpaid interest, with the repurchase scheduled for May 1, 2024. The notes are convertible into Li Auto's American depositary shares (ADSs), with the company's ADSs trading on the Nasdaq Global Select Market under the ticker symbol 'LI.' The...Show More

Li Auto Inc., a leader in China's new energy vehicle market, has announced a tender offer statement for the repurchase of its 0.25% Convertible Senior Notes due 2028. The offer, filed with the SEC, obligates the company to purchase the notes if properly tendered by the holders under the terms and conditions set forth in the Put Option. The Put Right Notice, dated March 27, 2024, specifies that holders can sell their notes back to the company at 100% of the principal amount, plus accrued and unpaid interest, with the repurchase scheduled for May 1, 2024. The notes are convertible into Li Auto's American depositary shares (ADSs), with the company's ADSs trading on the Nasdaq Global Select Market under the ticker symbol 'LI.' The tender offer is not subject to any financing conditions, as Li Auto plans to use its cash balance to fund the repurchase. The announcement also includes details on the procedures for holders to exercise their Put Right, the conditions of the repurchase, and the financial and tax considerations for the holders. The company's financial condition is reported to be non-material to the decision of the holders to put the notes to the company, as the consideration for the repurchase consists solely of cash.