BEIJING, April 6, 2021 /PRNewswire/ -- Renren
Inc. (NYSE: RENN) ("Renren" or the "Company") announced today
that Renren has made a $6,000,000
equity investment in Kaixin by subscribing Kaixin Auto Holdings'
("Kaixin") newly designated convertible preferred shares. The
preferred shares are convertible into Kaixin's ordinary shares at a
conversion price of $3.00, subject to
customary adjustments pursuant to the purchase agreement entered
into between Renren and Kaixin, which agreement will be included as
an exhibit to a Form 6-K to be furnished by Kaixin to the U.S.
Securities and Exchange Commission.
About Renren Inc.
Renren Inc. (NYSE: RENN) operates a leading premium used
auto business in China through its subsidiary Kaixin
Auto Holdings (NASDAQ: KXIN) as well as several US-based SaaS
business. Renren's American depositary shares, each of
which currently represents fifteen Class A ordinary shares, trade
on NYSE under the symbol "RENN".
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under 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," "future," "intends," "plans,"
"believes," "estimates" and similar
statements. Renren may also make written or oral
forward-looking statements in its filings with the U.S.
Securities and Exchange Commission (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 Renren's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in our
annual report on Form 20-F, the 6-K referred to above and other
documents filed with the SEC. All information provided in this
press release is as of the date of this press release,
and Renren does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
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SOURCE Renren Inc.