EETimes (24th exclusive) XPeng (09868) announced that today, the company, its subsidiary PXiSE, PXiSE's significant subsidiary, XPeng Group PXiSE, investors and executive subscribers entered into a PXiSE share purchase agreement, according to which XPeng Group PXiSE conditionally agrees to subscribe for a total of 98.6752 million newly issued PXiSE Series A preferred shares at an aggregate purchase price of US$200 million; investors conditionally agree to subscribe for approximately 296 million newly issued PXiSE Series A preferred shares at an aggregate purchase price of US$600 million; executive subscribers conditionally agree to subscribe for a total of 49.3376 million newly issued PXiSE ordinary shares at an aggregate purchase price of US$100 million.

    The company further stated that PXiSE warrants, with a total purchase price of US$123.35, are attached with rights to subscribe for up to approximately 250 million newly issued PXiSE ordinary shares at an aggregate exercise price of US$500 million.

    The company stated that the current round of equity financing of PXiSE, as contemplated under the PXiSE share purchase agreement, is initiated by leading global investment institutions, led by IDG Capital and co-invested by Gaorong Capital, and simultaneously supported by two strategic investors, Tencent (00700) and Alibaba (09988).

    In addition, each investor will be granted redemption rights, and with regard to the subscription, PXiSE will approve and adopt the PXiSE 2026 equity incentive plan prior to the first closing of the subscription. (rh)