Fisker Soars, Rebounding From Record Low, Amid Waiver Pact (1)

(Updates with stock move, details.)

Fisker shares jump as much as 41% Monday after the electric-vehicle startup entered into a second amendment and waiver agreement with an unnamed institutional investor that holds the company’s outstanding 0% senior secured convertible notes due 2025.

• The stock is bouncing back from a record low of 79c touched on Jan. 19
• Agreement provides for:
  • in connection with one or more future transactions with a strategic automotive partner, has secured a release of all liens previously granted to the investor on the intellectual property required by any such transactions
  • all financial covenants relating to cash ...