Financing ·
ECARX pays $10M to terminate right to purchase remaining $100M of convertible notes
ECXECARX Holdings Inc.
ECARX Holdings Inc. has entered into an agreement with a U.S.-based institutional investor to irrevocably waive the investor's right to purchase up to US$100 million in additional convertible notes under a securities purchase agreement dated October 30, 2025. The company previously issued US$50 million in initial notes and had the option to issue an additional $100 million subject to certain conditions. In consideration for terminating this remaining capacity, ECARX agreed to pay a one-time cash fee of US$10 million on or before October 26, 2026. This decision removes potential dilution from future share issuances linked to the company's prevailing share price and simplifies its capital structure. The move is part of the company's strategy to optimize its balance sheet while maintaining funding secured from existing noteholders and banking partners. ECARX Holdings Inc. operates as a leading global automotive intelligence company providing software-defined vehicle solutions.