Aston Martin plans to issue new shares in a bid to generate $300M to boost its finances as it gets ready to launch the DBX crossover (above). The shares are worth 19.99 percent of its existing ordinary share capital. New chairman Lawrence Stroll and his consortium will be buying up 24.99 percent of them and Prestige Motor Holdings are bagging 7.8 percent, with the rest available to the public, according to Autocar.
Aston Martin first offered its shares to the public in 2018 and the price collapsed spectacularly. Now under new leadership, including former Mercedes-AMG man Tobias Moers, with support from the U.K. government’s coronavirus scheme and an exciting new model on the horizon, the firm’s prospects are looking much healthier.
Meanwhile, attempts to revive the TVR brand are looking precarious. Despite claiming to have a full order book for the first year’s production of its Griffith sports car (above), TVR says it needs an additional $30M. The company is reaching out to its enthusiasts to support its future. The much-delayed, Ford V-8-powered Griffith was scheduled to go on sale in the U.S. after launching in Europe.
So, dig deep people. Save Aston Martin, save TVR. Save Ferris.