EHang announces US$40 million Investment from Carmignac

Rhea-AI Summary

EHang Holdings Limited (Nasdaq: EH) announced a significant investment of US$40 million from Carmignac, a European asset management firm, through a private placement of newly issued Class A ordinary shares. The transaction, closed on January 29, 2021, aims to enhance EHang's technology advancement and business development in the global urban air mobility (UAM) sector. This capital infusion is intended to bolster EHang's leading position in the industry.

Positive

• Carmignac invested US$40 million, strengthening EHang's financial position.
• Investment will enhance technology advancement and business development.

Negative

• None.

GUANGZHOU, China, Jan. 30, 2021 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world's leading autonomous aerial vehicle (AAV) technology platform company, today announced that Carmignac, a leading European asset management firm, invested US$40 million on behalf of its funds in the Company through a private placement of newly issued Class A ordinary shares of the Company. The transaction was closed on January 29, 2021.

EHang intends to use the proceeds to further strengthen the technology advancement and business development of EHang to reinforce its leading position in the global urban air mobility (UAM) industry.

The issuance of the securities is made in reliance on, and in compliance with Regulation S under the Securities Act of 1933, as amended.

About EHang

EHang (Nasdaq: EH) is the world's leading autonomous aerial vehicle (AAV) technology platform company. Our mission is to make safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with AAV products and commercial solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. As the forerunner of cutting-edge AAV technologies and commercial solutions in the global Urban Air Mobility (UAM) industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to 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,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Press Contact: pr@ehang.com
Investor Contact: ir@ehang.com / In the U.S.: Julia@blueshirtgroup.com / In China: Susie@blueshirtgroup.com

FAQ

What was the amount invested by Carmignac in EHang on January 29, 2021?

Carmignac invested US$40 million in EHang through a private placement.

What is the purpose of Carmignac's investment in EHang?

The investment aims to strengthen technology advancement and business development in the urban air mobility sector.

Which stock exchange is EHang listed on?

EHang is listed on Nasdaq under the ticker symbol EH.