Uxin Provides Updates on Payments Under Financing Transaction and Amended 2019 Note
05 April 2023 - 5:30PM
Uxin Limited (“Uxin” or the “Company”, together with its
subsidiaries, the “Group”) (Nasdaq: UXIN), a leading e-commerce
platform for buying and selling used cars in China, today announced
that NIO Capital has fulfilled its obligations to pay a portion of
the remaining outstanding purchase price for its subscription of
senior convertible preferred shares of the Company, based on
further agreed-upon schedules. To date, NIO Capital has fulfilled
its obligations to pay a total of US$80 million of the purchase
price. As previously disclosed, an affiliate of NIO Capital entered
into definitive agreements with the Company in June 2022 to
subscribe for senior convertible preferred shares of the Company
for an aggregate purchase price of US$100 million, payable in
multiple installments.
The Company also announced that it has fully performed its
outstanding payment obligations under certain convertible
promissory note originally issued in June 2019 and amended in June
2021, totaling an aggregate of US$61.6 million.
About Uxin
Uxin is a leading e-commerce platform for buying and selling
used cars in China. 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 select 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
Email: ir@xin.com
The Blueshirt Group
Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.com
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