Uxin announces formal signing of new US$100 million financing agreement with Azure Capital

$Uxin(UXIN.US)$ announced that it has signed a financing agreement with an affiliate of its existing shareholder, Azure Capital, which has subscribed for 714 million shares of the company's Senior Convertible Preferred Stock in the form of Senior Convertible Preferred Stock for a total amount of US$100 million.
Previously on 16 May 2022, Uxin announced that it had entered into a binding letter of intent to invest with affiliates of two existing shareholder shareholders, Azure Capital and Pleasure Capital.
According to the announcement, a further subscription for an additional US$100 million worth of senior convertible preference shares, this time at a price of US$0.233 per share (equivalent to US$0.7013 per American Depositary Share of the company), was made on top of the US$315 million financing transaction announced to have been signed on 15 June 2021.
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