Fisker Automotive gets interim access to $1.7 million DIP financing

By Caroline Salls

Pittsburgh, Nov. 26 - Fisker Automotive Holdings, Inc. was granted interim access to $1.7 million of a proposed $8.14 million of debtor-in-possession financing from Hybrid Technology, LLC, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Dec. 16.

As previously reported, the financing will fund the company's sale and Chapter 11 process.

Interest on the DIP loan will be 10%.

The facility is scheduled to mature on the earlier of 90 days after the bankruptcy filing date and the sale closing date.

In addition, the court scheduled a hearing on approval of the disclosure statement for Fisker's plan of liquidation for Dec. 10 and the asset sale hearing for Jan. 3.

Fisker, an Anaheim, Calif.-based electric vehicle manufacturer, filed bankruptcy on Nov. 22. The Chapter 11 case number is 13-13087.

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