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KXIN - Renren gains 2.8% after $6M equity investment in Kaixin Auto
Kaixin Auto Holdings
Renren (RENN) announces $6M equity investment in Kaixin (KXIN) by subscribing Kaixin’s newly designated convertible preferred shares.The preferred shares are convertible into Kaixin's ordinary shares at a conversion price of $3.00.KXIN +3.6% after-hours.RENN +2.8% after-hours.