ECARX completes $100 million convertible notes offering

ECARX Holdings Inc. (NASDAQ: ECX) announced the completion of its $100 million convertible notes offering, with the final $40 million tranche purchased by a consortium of investors on February 9.

The automotive technology company issued the convertible notes through a purchase agreement signed on November 3, 2025. The offering was completed in three tranches: $35 million purchased on November 14, 2025, $25 million on November 26, 2025, and the final $40 million on February 9. All notes carry an initial conversion price of $2.62 per share.

The investors in the offering include SPDB International (Hong Kong) Limited, ICBC International Investment Management Limited, CNCB (Hong Kong) Investment Limited, and an unnamed global investment institution.

According to the company, the transaction refinanced $65 million of previous convertible notes and provided an additional $35 million in new funding. ECARX also received a $45.6 million strategic investment from Geely in January 2026.

Chief Executive Officer Ziyu Shen stated that the company secured projects from Volkswagen Group and established partnerships with luxury automotive brands in 2025. He described the capital commitment as supporting the company's global expansion strategy.

ECARX provides automotive technology solutions including system-on-chip components and central computing platforms. Founded in 2017 and listed on NASDAQ in 2022, the company operates in 13 locations across eight countries and reports that its products are used in approximately 10 million vehicles globally.

You May Also Be Interested In

• Correction: Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
• JPMorgan Starts Kanzhun Ltd (2076:HK) at Overweight
• Aon plc (AON) files mixed shelf