Financing ·
ECARX pays $10M to terminate right to buy up to $100M in convertible notes
ECXECARX Holdings Inc.
ECARX Holdings Inc. has entered into a Limited Waiver Agreement with a U.S.-based institutional investor, terminating the investor's right to purchase up to US$100 million of additional convertible notes under a prior Securities Purchase Agreement. In consideration for this termination, ECARX agreed to pay a one-time cash fee of US$10 million on or before October 26, 2026. The initial agreement allowed for the issuance of up to US$150 million in total notes, with US$50 million already issued in October 2025. By waiving the remaining optionality, ECARX aims to reduce potential dilution from future share issuances linked to its prevailing stock price and simplify its capital structure. The company operates as a global automotive intelligence provider delivering software-defined vehicle solutions.