Fisker Seeking an Additional $150 Million in Investment Money
It’s no secret that Fisker has been walking a financial tightrope without a net, ever since the Department of Energy froze the $529 million loan to the hybrid car company. Now it appears as if they are hitting the bottom of the piggy bank, as Ray Lane, one of Fisker’s directors and managing partners, has released in an interview that they need more money to finance their next car.
According to reports, Fisker has raised an impressive $400 million in the last 12 months, but still needs an additional $150 million to help fund its next model and hit the breakeven point. This is likely not even the last of the fundraising, as Lane also alluded to the possibility of Fisker having to schmooze investors for a little more money in 2013.
After the company is no longer running at an operating loss, Lane also anticipates the company releasing an initial public offering, making Fisker a publicly traded company. If recent IPOs are any indication of the future IPO market (See: Facebook, et al) Fisker may want to rethink that plan.
We are excited to see Fisker’s next model, despite its combustion issues, but it may want to slow its roll just a little bit and focus on making the Karma a profitable venture prior to branching out, much like Tesla is doing. We guess we’ll see how this all pans out in the future, but we think Fisker’s trying to run the 400-meter hurdles before it can even walk.
Source: New York Daily News