Uxin Has Entered Into A Term Sheet With Xin Gao Group And An Investment Fund Regarding Financing; Term Sheet Constitutes Commitment To Negotiate In Good Faith To Enter Into Definitive Agreements For Financing ~$34.8M At $0.004858/Share (or $1.4574/ADS)
Portfolio Pulse from Benzinga Newsdesk
Uxin has signed a term sheet with Xin Gao Group and an investment fund for financing approximately $34.8 million at a rate of $0.004858 per share, equivalent to $1.4574 per American Depositary Share (ADS). This term sheet is a commitment to negotiate in good faith towards definitive agreements for the financing.
March 18, 2024 | 9:06 am
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Uxin enters into a financing agreement with Xin Gao Group and an investment fund for around $34.8M at $0.004858/share, aiming for definitive agreements.
The financing agreement indicates a positive development for Uxin, providing it with significant capital that could support its operations and growth strategies. The involvement of Xin Gao Group and an investment fund suggests confidence in Uxin's business model and future prospects. This news is likely to be viewed positively by investors, potentially leading to an uptick in Uxin's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100