Thunder Power Holdings (AIEV) said late Wednesday it signed a common stock purchase agreement for a $100 million committed equity facility.
Under the terms of the agreement, the company will have the right to sell up to $100 million in newly issued common shares over a 36-month period, subject to certain conditions.
Thunder Power said it plans to use any net proceeds from the facility for working capital and general corporate purposes.
The company's shares were down nearly 3% in after-hours activity.
Price: 0.7045, Change: -0.02, Percent Change: -2.83
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