In premarket trade today, Uxin Limited shares were trading at $1.34 with an increase of 14.53%. Wednesday’s closing price of $1.17 on UXIN stock represented a 12.50% gain.
A total of 6.59 million shares of the UXIN stock were traded, which is higher than its average daily volume of 5.59 million shares in the past 50 days. The current market cap of UXIN is $343.50 million and the number of outstanding shares stands at 332.52 million. A binding investment term sheet is the driving force behind increase in UXIN stock.
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What was the agreement for?
Online used car dealer UXIN is a leading nationwide organization in China. Its mission is to offer people the opportunity to buy the car they want online by providing high-quality used cars along with best-in-class buying services. Consumers can buy high-quality used cars in the country at highly competitive prices, as well as value-added products and services as well as comprehensive after-sales service from Uxin.
UXIN online sales consultants provide professional sales assistance to facilitate a smooth car buying experience in a timely fashion for consumers. Its extensive fulfillment network offers nationwide distribution service and title transfer between various cities in China in order to complete these online transactions.
Two established Asian funds have entered into a binding agreement with Uxin Limited on April 01, 2021, as announced in a press release today.
- Investing in senior convertible preferred shares will require the potential investors to negotiate and potentially sign definitive agreements for the subscription of such shares.
- There could be an aggregate investment of up to $300 million in this potential transaction.
- A definitive agreement and closing conditions are necessary for the completion of the potential transaction.