Uxin Ltd. (UXIN), China's used car retailer, Wednesday announced that it has signed a definitive agreement with Fame Dragon Global Ltd., an investment vehicle of NIO Capital.
Under the deal, the investor will buy over 5,738,268,233 Class A Ordinary Shares for approximately $27,876,506.
This agreement follows the investor taking over NC Fund's rights and obligations from a previous deal signed on March 18, 2024, involving NC Fund, Xin Gao Group Limited, and the Company.
Tuesday, Uxin had closed 6.44% higher at $4.13 on the Nasdaq.
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