Renren makes USD6,000,000 equity investment in Kaixin.

Auto Business News-April 7, 2021--Renren makes USD6,000,000 equity investment in Kaixin

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Auto Business News - 07 April 2021

Renren Inc. (NYSE: RENN), a company that operates a premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) and several US-based SaaS businesses, has made a USD6,000,000 equity investment in Kaixin.

The company has taken this step by subscribing to Kaixin Auto Holdings' newly designated convertible preferred shares.

The preferred shares are convertible into Kaixin's ordinary shares at a conversion price of USD3.00, subject to customary...

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