Lotus Technology receives $300M funding commitment

Lotus Technology (LOT) entered into a securities purchase agreement with ATW Partners, under which the Company agreed to issue and sell convertible notes for up to an aggregate principal amount of $300M that will be convertible into ordinary shares of the Company in the form of American depositary shares of the Company. As previously announced, the Company also entered into a Master Credit Facility Framework Agreement with Zhejiang Geely Holding Group Company on July 28, 2025, pursuant to which Geely agrees to provide the Company and its affiliates with a non-revolving credit facility of up to RMB1,600,000,000. The Company expects to issue and sell to ATW Partners Notes in the original principal amount of $10M on August 19, 2025. Upon satisfaction of certain other conditions, the securities purchase agreement contemplates additional closings of up to $290 million in aggregate principal amount of additional convertible notes. The Initial Notes are expected to be offered in a registered direct offering pursuant to a registration statement on Form F-3, which was declared effective by the Securities and Exchange Commission on June 13, 2025.