Kaixin Auto Holdings (KXIN) has released an update.
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Kaixin Auto Holdings has announced a securities purchase agreement involving the sale of 1,166,667 ordinary shares at $3.00 per share. This transaction is part of a larger strategy to leverage its shelf registration statement, which includes up to $10,500,000 worth of unallocated securities. Investors are granted the additional right to purchase up to $7 million more in shares under specified conditions, showcasing an opportunity for strategic investment in the company’s growth.
For further insights into KXIN stock, check out TipRanks’ Stock Analysis page.