- Uxin ( NASDAQ: UXIN ) issued 183.5M Class A ordinary shares, par value $0.0001/share, to 58.com Holdings in exchange for the full release of the company's obligations under the convertible promissory note issued to 58.com in June 2019.
- These shares were issued at a price equivalent to $1.03/ADS.
- Related to the transaction, the company and 58.com have mutually released the other party from claims arising out of certain obligations under certain historical transactions.
- Shares trading 1.4% higher premarket.
For further details see:
Uxin announces 58.com note restructuring and other transactions