BEIJING, Nov. 20, 2017 /PRNewswire/ -- NQ Mobile Inc.
("NQ Mobile" or the "Company"), a leading global
provider of mobile internet services, today announced that it
negotiated with Zhongzhi Hi-Tech Overseas Investment Limited
("Zhongzhi") for an early partial redemption of the convertible
note and has reached an agreement to redeem US$88 million of the principal amount of the
convertible note issued to Zhongzhi in October 2016. In
addition, the Company and Zhongzhi further agreed that if Zhongzhi
converts the remaining US$132 million
of convertible notes to the Company's American Depository Shares
("ADS") on or before March 31, 2018,
the conversion price will be revised to US$5.00 per ADS. If Zongzhi converts the
remaining US$132 million of
convertible notes after March 31,
2018 to the note's maturity the conversion price will remain
US$6.00 per ADS.
About NQ Mobile
NQ Mobile Inc. (NYSE: NQ) is a leading global provider of mobile
internet services. NQ Mobile's portfolio of offerings includes
mobile game publishing platforms, mobile advertising platforms,
mobile entertainment applications and platforms, mobile security
and productivity applications and other mobile applications. For
more information on NQ Mobile, please visit http://www.nq.com.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties. Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
Investor Relations:
NQ Mobile Inc.
Email: investors@nq.com
Phone: +1 469 310 5281
Phone: +86 10 6452 2017
Twitter: @NQMobileIR
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SOURCE NQ Mobile Inc.