Uxin (UXIN) has released an update.
Uxin Limited, a leading used car retailer in China, has announced a memorandum of understanding with Pintu (Beijing) Information Technology Co., Ltd. for a proposed investment of $7.5 million. The agreement involves the subscription of over 1.5 billion Class A ordinary shares at a price of $0.004858 per share. Additionally, a loan agreement has been made with Youxin Anhui, a wholly-owned subsidiary of Uxin, by the investor for the same amount.
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