Uxin Limited announced it has entered into definitive agreements with Fame Dragon Global Limited, an investment vehicle of NIO Capital, for a financing round. This agreement follows a binding term sheet previously announced on March 18, 2024.
Under the terms of the agreement, the investor will purchase 5,738,268,233 Class A Ordinary Shares of Uxin for a total consideration of US$27,876,506. The closings of the subscription are subject to customary closing conditions.
This capital infusion is expected to materially strengthen Uxin's liquidity and enable the company to deepen its inventory levels. Increased inventory is crucial for sustaining rapid sales growth and supporting the expansion of its superstore network.
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