ECARX Holdings Inc. (ECX) announced the pricing of the underwritten public offering of 25 million class A ordinary shares of the company, at a public offering price of $1.80 per share. The company has granted the underwriters in the offering a 30-day option to purchase up to an additional 3.75 million ordinary shares.
ECARX Holdings Inc. plans to use the net proceeds from the offering primarily for research and development initiatives, establishment of overseas supply chain networks, and general corporate purposes.
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