Uxin Announces Entry into Definitive Agreements for Financing

Rhea-AI Summary

Uxin (NASDAQ: UXIN), China's leading used car retailer, has announced signing definitive agreements with Fame Dragon Global , an investment vehicle of NIO Capital. The agreement involves the purchase of 5,738,268,233 Class A Ordinary Shares for a total consideration of US$27.88 million.

The transaction follows Fame Dragon Global 's acquisition and assumption of NC Fund's rights and obligations under a previously announced binding term sheet dated March 18, 2024, which involved NC Fund, Xin Gao Group , and Uxin. The deal completion remains subject to customary closing conditions.

Positive

• Secured significant investment of US$27.88 million
• Strategic partnership with NIO Capital through Fame Dragon Global

Negative

• Substantial share issuance may lead to dilution of existing shareholders

BEIJING, March 5, 2025 /PRNewswire/ -- Uxin Limited ("Uxin" or the "Company") (Nasdaq: UXIN), China's leading used car retailer, today announced that, it entered into certain definitive agreements with Fame Dragon Global Limited (the "Investor"), an investment vehicle of NIO Capital, pursuant to which the Investor agreed to purchase 5,738,268,233 Class A Ordinary Shares of the Company for a total consideration of US$27,876,506. The closings of the subscription are subject to customary closing conditions. The parties entered into the definitive agreements following the Investor's acquisition and assumption of NC Fund's rights and obligations under the previously announced binding term sheet entered into on March 18, 2024 among NC Fund, Xin Gao Group Limited and the Company.

About Uxin

Uxin is China's leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline inspection and reconditioning centers. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of the used car industry.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements which are made 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. Statements that are not historical facts, including statements about Uxin's beliefs, plans, 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: the risk and uncertainties as to the timing of the entry into definitive agreements or consummation of the transactions; the risk that certain closing conditions of the transactions may not be satisfied on a timely basis, or at all; impact of the COVID-19 pandemic; Uxin's goal and strategies; its expansion plans and successful completion of certain financing transactions; 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.

For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Uxin Limited
Email: ir@xin.com

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.co

View original content:https://www.prnewswire.com/news-releases/uxin-announces-entry-into-definitive-agreements-for-financing-302392871.html

SOURCE Uxin Limited

FAQ

What is the value of NIO Capital's investment in Uxin (UXIN) announced in March 2025?

NIO Capital, through Fame Dragon Global , agreed to invest US$27.88 million in Uxin by purchasing 5.74 billion Class A Ordinary Shares.

How many Class A Ordinary Shares will Fame Dragon Global purchase from Uxin (UXIN)?

Fame Dragon Global will purchase 5,738,268,233 Class A Ordinary Shares of Uxin.

When was the original binding term sheet for this UXIN investment signed?

The original binding term sheet was signed on March 18, 2024, involving NC Fund, Xin Gao Group , and Uxin.

What conditions need to be met for the UXIN share subscription to close?

The subscription closing is subject to customary closing conditions, as stated in the definitive agreements.