Kaixin Auto Holdings announces approval by NASDAQ of Haitaoche acquisition
April 15 2021 - 7:00AM
Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN)
today announced that it received the approval by NASDAQ Stock
Market for the acquisition (the “Acquisition”) of 100% of the share
capital of Haitaoche Limited pursuant to a share purchase agreement
entered into on December 31, 2020. Subject to certain other closing
conditions, including the shareholder approval of the amendment to
the Company’s article of associations, the Company anticipates the
Acquisition to be closed in May, 2021.
About Kaixin Auto Holdings
Kaixin Auto Holdings is one of the primary dealership networks
in the premium used car segment in China. Supported by the rapid
growth of China's used car market and leveraging its own hybrid
business model that offers both strong online and offline presence,
Kaixin has transformed from a tech-enabled financing platform into
a nationwide dealer network that combines its own and affiliated
dealers as well as value-added services.
Safe Harbor Statement
This announcement may contain 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. Among other things,
the business outlook for 2021 and quotations from management in
this announcement, as well as Kaixin’s strategic and operational
plans, contain forward-looking statements. Kaixin may also make
written or oral forward-looking statements in its filings with the
U.S. Securities and Exchange Commission ("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 Kaixin’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 statement, including but not
limited to the following: our goals and strategies; our future
business development, financial condition and results of
operations; the expected growth of the social networking site
market in China; our expectations regarding demand for and market
acceptance of our services; our expectations regarding the
retention and strengthening of our relationships with used auto
dealerships; our plans to enhance user experience, infrastructure
and service offerings; competition in our industry in China; and
relevant government policies and regulations relating to our
industry. Further information regarding these and other risks is
included in our other documents filed with the SEC. All information
provided in this press release and in the attachments is as of the
date of this press release, and Kaixin does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please contact:
Kaixin Auto Holdings Investor
RelationsEmail: ir@kaixin.com
SOURCE: Kaixin Auto Holdings
Kaixin (NASDAQ:KXIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kaixin (NASDAQ:KXIN)
Historical Stock Chart
From Apr 2023 to Apr 2024