CYVN Holdings will invest $738.5M in cash to subscribe 84.7M newly issued class A ordinary shares of the electric-vehicle maker for a per share price of $8.72.
Nio also said that it is aware of CYVN Holdings’ agreement with a Tencent affiliate, under which CYVN will buy 40.1M shares of Nio owned by the Tencent affiliate. CYVN will own about 7% of the Chinese EV player after the close of this transaction.
CYVN will be entitled to nominate one director to Nio’s board as long as it owns no less than 5% of the company. It will also cooperate with the EV maker to jointly pursue opportunities in its international business.