Uxin Announces Entry into a Binding Term Sheet with Existing Investors
May 16 2022 - 6:00AM
Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading
nationwide online used car dealer in China, today announced that it
has entered into a binding term sheet with 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 potentially enter
into definitive agreements with the Company for the subscription of
senior convertible preferred shares for an aggregate amount of
US$100 million, which is in addition to the financing transactions
with the Investors of up to US$315 million announced by the Company
on June 15, 2021. Pursuant to the potential transaction, the
Company will issue senior convertible preferred shares to the
Investors in an aggregate amount of US$100 million at a price of
US$0.23377 per share (equivalent to US$0.7013 per American
depositary share of the Company). The potential transaction is
subject to the parties’ execution of definitive agreements and
customary closing conditions to be stipulated therein. The
definitive agreements are expected to be signed by June 30, 2022.
About Uxin
Uxin Limited (Nasdaq: UXIN) is a leading
nationwide online used car dealer in China. With its offerings of
high-quality used cars and best-in-class purchasing services,
Uxin’s mission is to enable people to buy the car of their choice
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 as well as comprehensive
aftersales services. Its online sales consultants offer
professional consulting to facilitate a convenient and efficient
car purchase for consumers in a timely fashion. Its comprehensive
fulfillment network supports nationwide logistics and delivery as
well as title transfers between different cities across China so as
to fulfill these online transactions.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the United States 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. 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 statement, including but not limited to the
following: impact of the COVID-19 pandemic, Uxin’s goal and
strategies; its expansion plans; 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. 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 is as of the date of
this press release, and Uxin does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media enquiries, please
contact:Uxin Limited Investor RelationsMs. Joyce
TangPhone: +86 10 5691-6765Email: ir@xin.com
The Blueshirt GroupMs. Julia QianPhone: +1 973-619-3227Email:
Julia@blueshirtgroup.com
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