Fisker’s Financial Struggles Lead to Board Reshuffle and Debt Forbearance

The latest update is out from Fisker (FSRN).

Fisker Inc., after selling convertible senior notes to an investor, faced a series of defaults due to its stock suspension and delisting from the NYSE, along with missed payment deadlines. The investor gained rights including demanding immediate redemption of these notes. However, Fisker and its guarantors negotiated forbearance agreements, temporarily preventing the investor from enforcing redemption. Amidst this financial restructuring, Mark E. Hickson resigned from the Board, and Michael Healy of FTI Consulting was appointed as Chief Restructuring Officer, bringing in his extensive experience in managing corporate turnarounds.

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