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Thunder Power Holdings Inc Class A (AIEV) has shared an announcement.
Thunder Power Holdings, Inc. has struck a deal with Westwood Capital Group LLC, agreeing to a potential $100 million investment in Thunder Power’s common stock. This arrangement enables the company to sell shares to Westwood at a discounted price, depending on market conditions and Thunder Power’s discretion. The proceeds are expected to fuel working capital and the development of electric vehicle models. Westwood also commits not to engage in any short sales or hedging against Thunder Power’s stock, with additional compensation for their commitment, including shares and cash fees. The agreement is contingent on various customary conditions and regulatory approvals.
Learn more about AIEV stock on TipRanks’ Stock Analysis page.