Aston Martin said it was looking to raise cash after lowering its profit forecast for the second time in two months.
The British luxury carmaker now expects to make a profit of up to £280 million ($352 million) in 2024, lower than last year's profit of £305.9 million.
The company, famous for its links to the fictional super-spy James Bond, blames the shortfall on a “slight delay” in deliveries of its ultra-exclusive Valiant models.
Aston Martin had already lowered its forecasts in September, saying it had been affected by a drop in demand in China, where the slowing economy has hit sales of luxury cars.
To shore up its finances, the carmaker announced it would issue new shares and debt totaling £210 million.
“The financing we are undertaking supports our growth and provides the investment needed to continue future product innovation,” Aston Martin chief executive Adrian Hallmark said in a statement.
“We are already taking decisive steps to better position the group for the future, including a more balanced production and delivery profile.”
Aston Martin said it now expects to deliver about half of 38 orders for Valiant models by the end of the year. It previously said it would be able to deliver the majority of these cars.
The premium car maker's UK-listed shares have now halved since the start of the year.
Aston Martin is a prestige brand that manufactures high-end cars in relatively small quantities.
Last year it sold 6,620 vehicles, about a fifth of them to the Asia-Pacific region.
In addition to the slowdown in China, it has faced problems at a number of suppliers, which has affected its ability to build a number of new models.
As a result, Aston Martin announced that it would make around 1,000 fewer cars this year than initially planned.
European automakers have suffered recently, with disappointing sales and increased foreign competition weighing heavily on their profits.
