BEIJING, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ:KXIN) announces today that it has obtained a total of $700 million of targeted investment intentions from several institutional investors. The investments will take effect simultaneously with Kaixin’s intended acquisition of a new energy vehicle manufacturing company. The investors intend to subscribe for the Company’s convertible preferred shares with a conversion price of at least $2.0 per share, which are to be issued concurrent with the intended acquisition transaction.
Kaixin Auto Holdings Announces $700 Million Intended Investments at Conversion Price of $2 and Above for Pending Acquisition of New Energy Vehicle Manufacturer
Globe Newswire - Press Release
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