The interest rate on the bonds is zero and will mature on February 4, 2021.

On February 6, Weilai Automobile announced that it has signed a final transaction document with another non-affiliated Asian investment fund. Weilai Automobile will issue convertible bonds with a total principal of US $ 70 million. It is expected to be around February 10, 2020.

On February 14, Weilai Automobile announced that it had signed a convertible bond subscription agreement with the purchaser. According to the agreement, Weilai will issue and sell convertible bonds with a total principal amount of US $ 100 million to purchasers in a non-public offering. The placing of both transactions is subject to customary closing conditions and is expected to be completed no later than February 19, 2020.

On March 5, Weilai Automobile announced that it has signed a convertible bond subscription agreement with the buyer. According to the agreement, Weilai will issue and sell convertible bonds with a total principal of US $ 235 million to buyers in a non-public offering. It is expected to be completed no later than March 11, 2020. This means the company’s announced funding this year will reach $ 435 million.

Will Weilai be able to cross this threshold and leave it to the market to decide?

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