SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2022
Commission File Number: 001-38527
1&3/F, No. 12 Beitucheng East Road,
Chaoyang District, Beijing 100029,
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Title||:||Chief Financial Officer|
Date: May 16, 2022
Uxin Announces Entry into a Binding Term Sheet with Existing Investors
BEIJING, May 16, 2022 (GLOBE NEWSWIRE) Uxin Limited (Uxin or the Company) (Nasdaq: UXIN), a leading nationwide online used car dealer in China, today announced that it has entered into a binding term sheet with affiliates of two existing shareholders, Nio Capital and Joy Capital (collectively, the Investors), on May 16, 2022. Pursuant to the binding term sheet, the Investors have agreed to negotiate and potentially enter into definitive agreements with the Company for the subscription of senior convertible preferred shares for an aggregate amount of US$100 million, which is in addition to the financing transactions with the Investors of up to US$315 million announced by the Company on June 15, 2021. Pursuant to the potential transaction, the Company will issue senior convertible preferred shares to the Investors in an aggregate amount of US$100 million at a price of US$0.23377 per share (equivalent to US$0.7013 per American depositary share of the Company). The potential transaction is subject to the parties execution of definitive agreements and customary closing conditions to be stipulated therein. The definitive agreements are expected to be signed by June 30, 2022.
Uxin Limited (Nasdaq: UXIN) is a leading nationwide online used car dealer in China. With its offerings of high-quality used cars and best-in-class purchasing services, Uxins mission is to enable people to buy the car of their choice online. Uxins one-stop online shopping mall provides consumers with a nationwide selection of value-for-money used cars, various value-added products and services as well as comprehensive aftersales services. Its online sales consultants offer professional consulting to facilitate a convenient and efficient car purchase for consumers in a timely fashion. Its comprehensive fulfillment network supports nationwide logistics and delivery as well as title transfers between different cities across China so as to fulfill these online transactions.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, future, intends, plans, believes, estimates and similar statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxins beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: impact of the COVID-19 pandemic, Uxins goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxins expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in Chinas used car e-commerce industry; the laws and regulations relating to Uxins industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxins filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Ms. Joyce Tang
Phone: +86 10 5691-6765
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227