Uxin Provides Updates on Payments Under Financing Transaction with NIO Capital
September 30 2022 - 4:50AM
Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading
e-commerce platform for buying and selling used cars in China,
today announced that NIO Capital has made further payments for its
subscription of senior convertible preferred shares of the Company
based on further agreed-upon schedules. As previously disclosed,
the Company has entered into definitive agreements with an
affiliate of NIO Capital in June 2022 for the subscription of
714,285,714 senior convertible preferred shares of the Company for
an aggregate investment amount of US$100 million, which will be
paid in multiple installments. The same number of senior
convertible preferred shares were issued on July 27, 2022 and the
Company received the first installment in connection with the
closing of the transaction.
About Uxin
Uxin is a leading e-commerce platform for buying
and selling used cars in China. We offer high-quality and
value-for-money vehicles as well as superior after-sales services
through a reliable, one-stop, and hassle-free transaction
experience. Under our omni-channel strategy, we are able to
leverage our pioneering online platform to serve customers
nationwide and establish market leadership in select regions
through offline inspection and reconditioning centers. Leveraging
our extensive industry data and continuous technology innovation
throughout more than ten years of operation, we have established
strong used car management and operation capabilities. We are
committed to upholding our customer-centric approach and driving
the healthy development of the used car industry.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements which are made pursuant to
the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,”
“anticipates,” “aims,” “future,” “intends,” “plans,” “believes,”
“estimates,” “likely to,” and similar statements. Statements that
are not historical facts, including statements about Uxin’s
beliefs, plans, and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the risk and
uncertainties as to the timing of the entry into definitive
agreements or consummation of the transactions; the risk that
certain closing conditions of the transactions may not be satisfied
on a timely basis, or at all; impact of the COVID-19 pandemic;
Uxin’s goal and strategies; its expansion plans and successful
completion of certain financing transactions; its future business
development, financial condition and results of operations; Uxin’s
expectations regarding demand for, and market acceptance of, its
services; its ability to provide differentiated and superior
customer experience, maintain and enhance customer trust in its
platform, and assess and mitigate various risks, including credit;
its expectations regarding maintaining and expanding its
relationships with business partners, including financing partners;
trends and competition in China’s used car e-commerce industry; the
laws and regulations relating to Uxin’s industry; the general
economic and business conditions; and assumptions underlying or
related to any of the foregoing.For investor and media enquiries,
please contact:
Uxin Limited Investor RelationsMs. Joyce TangPhone: +86 10
5691-6765Email: ir@xin.comThe Blueshirt GroupJack WangPhone: +86
166-0115-0429Email: Jack@blueshirtgroup.com
Uxin (NASDAQ:UXIN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Uxin (NASDAQ:UXIN)
Historical Stock Chart
From Aug 2023 to Aug 2024