{"id":472269,"date":"2021-04-06T17:03:36","date_gmt":"2021-04-06T21:03:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472269"},"modified":"2021-04-06T17:03:36","modified_gmt":"2021-04-06T21:03:36","slug":"renren-announces-a-6-million-equity-investment-in-kaixin-auto","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\/","title":{"rendered":"Renren Announces a $6 Million Equity Investment in Kaixin Auto"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n BEIJING<\/span>, April 6, 2021<\/span> \/PRNewswire\/ —\u00a0Renren Inc.\u00a0(NYSE: RENN) (“Renren” or the “Company”) announced today that Renren has made a $6,000,000<\/span> equity investment in Kaixin by subscribing Kaixin Auto Holdings’ (“Kaixin”) newly designated convertible preferred shares. The preferred shares are convertible into Kaixin’s ordinary shares at a conversion price of $3.00<\/span>, subject to customary adjustments pursuant to the purchase agreement entered into between Renren and Kaixin, which agreement will be included as an exhibit to a Form 6-K to be furnished by Kaixin to the U.S. Securities and Exchange Commission.<\/p>\n

\n About\u00a0Renren Inc.<\/b>\n <\/p>\n

Renren Inc.\u00a0(NYSE: RENN) operates a leading premium used auto business in\u00a0China\u00a0through its subsidiary\u00a0Kaixin Auto Holdings\u00a0(NASDAQ: KXIN) as well as several US-based SaaS business.\u00a0Renren’s\u00a0American depositary shares, each of which currently represents fifteen Class A ordinary shares, trade on\u00a0NYSE\u00a0under the symbol “RENN”.<\/p>\n

\n Safe Harbor Statement<\/b>\n <\/p>\n

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. 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.\u00a0Renren\u00a0may also make written or oral forward-looking statements in its filings with the\u00a0U.S. Securities and Exchange Commission\u00a0(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\u00a0Renren’s\u00a0beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in our annual report on Form 20-F, the 6-K referred to above and other documents filed with the\u00a0SEC. All information provided in this press release is as of the date of this press release, and\u00a0Renren\u00a0does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/renren-announces-a-6-million-equity-investment-in-kaixin-auto-301263178.html<\/a><\/p>\n

SOURCE Renren Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire BEIJING, April 6, 2021 \/PRNewswire\/ —\u00a0Renren Inc.\u00a0(NYSE: RENN) (“Renren” or the “Company”) announced today that Renren has made a $6,000,000 equity investment in Kaixin by subscribing Kaixin Auto Holdings’ (“Kaixin”) newly designated convertible preferred shares. The preferred shares are convertible into Kaixin’s ordinary shares at a conversion price of $3.00, subject to customary adjustments pursuant to the purchase agreement entered into between Renren and Kaixin, which agreement will be included as an exhibit to a Form 6-K to be furnished by Kaixin to the U.S. Securities and Exchange Commission. About\u00a0Renren Inc. Renren Inc.\u00a0(NYSE: RENN) operates a leading premium used auto business in\u00a0China\u00a0through its subsidiary\u00a0Kaixin Auto Holdings\u00a0(NASDAQ: KXIN) as well as several US-based SaaS business.\u00a0Renren’s\u00a0American depositary shares, each of … <\/p>\n

Continue reading “Renren Announces a $6 Million Equity Investment in Kaixin Auto”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472269","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRenren Announces a $6 Million Equity Investment in Kaixin Auto - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renren Announces a $6 Million Equity Investment in Kaixin Auto - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BEIJING, April 6, 2021 \/PRNewswire\/ —\u00a0Renren Inc.\u00a0(NYSE: RENN) (“Renren” or the “Company”) announced today that Renren has made a $6,000,000 equity investment in Kaixin by subscribing Kaixin Auto Holdings’ (“Kaixin”) newly designated convertible preferred shares. The preferred shares are convertible into Kaixin’s ordinary shares at a conversion price of $3.00, subject to customary adjustments pursuant to the purchase agreement entered into between Renren and Kaixin, which agreement will be included as an exhibit to a Form 6-K to be furnished by Kaixin to the U.S. Securities and Exchange Commission. About\u00a0Renren Inc. Renren Inc.\u00a0(NYSE: RENN) operates a leading premium used auto business in\u00a0China\u00a0through its subsidiary\u00a0Kaixin Auto Holdings\u00a0(NASDAQ: KXIN) as well as several US-based SaaS business.\u00a0Renren’s\u00a0American depositary shares, each of … Continue reading "Renren Announces a $6 Million Equity Investment in Kaixin Auto"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T21:03:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN33557&sd=2021-04-06\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Renren Announces a $6 Million Equity Investment in Kaixin Auto\",\"datePublished\":\"2021-04-06T21:03:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/\"},\"wordCount\":347,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN33557&sd=2021-04-06\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/renren-announces-a-6-million-equity-investment-in-kaixin-auto\\\/\",\"name\":\"Renren Announces a $6 Million Equity Investment in Kaixin Auto - 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