Uxin (UXIN) announced that, it entered into certain definitive agreements with Fame Dragon Global, an investment vehicle of NIO Capital, pursuant to which the investor agreed to purchase 5,738,268,233 Class A ordinary shares of the company for a total consideration of $27.88M. The closings of the subscription are subject to customary closing conditions. The parties entered into the definitive agreements following the Investor’s acquisition and assumption of NC Fund’s rights and obligations under the previously announced binding term sheet entered into on March 18, 2024 among NC Fund, Xin Gao Group Limited and the company.
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