- Uxin Ltd UXIN inked agreements with NIO Capital and Joy Capital to invest a total of up to $315 million in the company.
- Simultaneously, Uxin agreed with the holders of its convertible notes, including 58.com, TPG, and Warburg Pincus, to convert their convertible notes in $69 million into Uxin shares.
- Over ten critical investors, including NIO Capital, Joy Capital, and the above-mentioned convertible noteholders, will not sell their shares in the next nine months under the arrangement.
- NIO Inc NIO Chair and NIO Capital Managing Partner William Bin Li acknowledged the used car market’s exponential growth potential in China.
- Uxin held $44.1 million in cash and equivalents as of Dec. 31, 2020.
- Price action: UXIN shares traded higher by 15.30% at $5.97 in the premarket session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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