Event
Horizon Robotics prices $450M zero-coupon convertible bonds
Horizon Robotics priced $450 million of zero-coupon convertible bonds due 2027 with an initial conversion price of HK$5.55 per share. Most net proceeds are earmarked for early settlement of its CARIAD convertible loan.
Evidence notes
- The offering is expected to generate about $445.5 million in net proceeds, with about $398.9 million allocated to CARIAD-related payments and loan settlement.
- The amended arrangement gives CARIAD a 9.9% holding after early conversion while Horizon redeems excess conversion rights corresponding to about 716 million shares.
- Full conversion of the new bonds would issue about 635.6 million Class B shares; this is a public-market debt transaction, not a private funding round.
Company context
Horizon Robotics develops automotive AI chips, Journey processors and driving software for assisted and autonomous vehicle systems.
Context
- Company
- Horizon Robotics
- Segment
- Ai Compute
- Event type
- Market Signal
- Added to Korthos
- Jul 23, 2026
- Geography
- Beijing, Beijing · China