NaaS Technology Inks A Purchase Agreement With LMR Partners For Private Placement Of Convertible Note Worth $40M
Portfolio Pulse from Benzinga Newsdesk
NaaS Technology Inc. (NASDAQ:NAAS), the first U.S. listed EV charging service company in China, has entered into a convertible note purchase agreement with LMR Partners Limited. The agreement involves a $40 million convertible note, which can be converted into American depositary shares representing the company's ordinary shares. The company and the investor also entered into a derivative arrangement with respect to the ADSs.
August 31, 2023 | 10:36 am
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NaaS Technology Inc. has entered into a $40 million convertible note purchase agreement with LMR Partners Limited. This could potentially increase the company's liquidity and financial flexibility.
The convertible note purchase agreement could potentially increase NaaS Technology Inc.'s liquidity and financial flexibility. This could be seen as a positive development by investors, potentially leading to an increase in the company's stock price in the short term.
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