Aston Martin Lagonda, the struggling luxury car maker, has confirmed plans to raise £500m to immediately reduce “severe pressure on liquidity”.
The company said it will raise £182m through a private placement of shares priced at £4.00 each.
It will tap its shareholders for an additional £318m through a rights issue.
The maker of James Bond’s favourite car has struggled since it floated on the London Stock Exchange in October 2018, when its shares were priced at £19.
Its shares are currently trading at 402.7p.
Earlier the month, it warned on profits following a “very disappointing” 2019.