Lotus Technology Secures Investment from Strategic Investor
Summary
NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (Lotus Tech or the Company), a leading global luxury electric vehicle maker, today announced that it has entered into a convertible bond agreement with an aggregate principal amount of approximately $110 million1 through a private placement from its existing strategic shareholder (the Investment). The investment marks the shareholders continuous confidence in Lotus Techs growth strategy and outlook. A description of the material terms and conditions of the convertible purchase agreement and the notes is included in the Companys current report on Form 6-K filed with the U.S. Securities and Exchange Commission.The Investment underscores the shareholders strong belief in the Companys vision and core value. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. All information provided in this press release is as of the date of this press release, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.______________1 The principal amount of each note will be based on the applicable exchange rate two business days prior to the issue date.