China’s used car marketplace Uxin to raise $ 230M via convertible notes TechCrunch
uxin Uxin, a Chinese second-hand car dealer with Leonardo DiCaprio as its latest brand ambassador, is tipped to get a bag of new funding less than a year after it raised $ 225 million from its public offering on the Nasdaq. The company announced on Wednesday that it’s selling $ 230 million worth of convertible notes to 58.com — China’s answer to Craigslist, Warburg Pincus, TPG and other investors. The notes, due in June, convert to Uxin’s Class A ordinary shares at a price of $ 1.03 per share or $ 3.09 per ADS. Upon closing the deal, each of 58.com, Warburg Pincus and TPG will obtain the right…