By Stephen Nakrosis
Shares of electric-vehicle maker Fisker Inc. were trading lower Tuesday, after the company said it entered an at-the-market distribution agreement for up to $350 million of its common stock.
At 3:06 p.m. ET, the stock had fallen 18% to trade at $9.03. Volume at the time topped 10.8 million shares, above the stock’s 65-day average volume of just under 7 million shares.
Fisker said net proceeds from the offering would be used for development of the Fisker Personal Electric Automotive Revolution, additional vehicle development, and other purposes.
Write to Stephen Nakrosis at firstname.lastname@example.org