BEIJING, May 16, 2022 (GLOBE NEWSWIRE) — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading nationwide online used car dealership in China, announced today that it has entered into a binding agreement with the affiliates of two existing shareholders, Nio Capital and Joy Capital (collectively, the “Investors”), on May 16, 2022. Pursuant to the binding term sheet, the Investors have agreed to negotiate and possibly enter into definitive agreements with the Company for the subscription of convertible senior preferred shares for an aggregate amount of US$100 million, which is in addition to financing transactions with Investors in the amount up to US$315 million announced by the Company on June 15, 2021. Pursuant to the potential transaction, the Company will issue convertible first preferred shares to Investors for an amount total of US$100 million at a price of US$0.23377 per share (equivalent to US$0.7013 per US depository share of the Company). The potential transaction is subject to the execution by the parties of definitive agreements and customary closing conditions to be set forth therein. Final agreements are expected to be signed by June 30, 2022.
Uxin Limited (Nasdaq: UXIN) is a leading domestic online used car dealership in China. With high quality used car offers and best shopping services, Uxin’s mission is to enable people to buy any car they want online. Uxin’s one-stop online shopping mall provides consumers with a nationwide selection of value-for-money used cars, various value-added products and services, and comprehensive after-sales services. Its online sales advisors offer professional advice to facilitate a convenient and efficient car purchase for consumers in a timely manner. Its comprehensive fulfillment network supports nationwide logistics and delivery as well as securities transfers between different cities in China to complete these transactions online.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate”, ” future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. . Statements that are not historical facts, including statements about Uxin’s beliefs 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 statements, including, but not limited to, the following: the impact of the COVID-19 pandemic, the purpose and strategies of Uxin; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding market demand and acceptance of its services; its ability to provide a differentiated and superior customer experience, maintain and enhance customer confidence in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financial partners; trends and competition in the Chinese used car e-commerce industry; laws and regulations relating to the industry of Uxin; general economic and commercial conditions; and the assumptions underlying or relating to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments speaks as of the date of this press release, and Uxin undertakes no obligation to update any forward-looking statements except as required by applicable law.
For investor and media inquiries, please contact:
Uxin Limited Investor Relations
Ms. Joyce Tang
Telephone: +86 10 5691-6765
The Blueshirt Group
Ms Julia Qian
Phone: +1 973-619-3227