ECARX raises convertible note capacity to $130M, adds $15M subscription

ECARX Holdings Inc. (Nasdaq: ECX) announced it has amended its 2025 convertible notes program, raising the total capacity from $100 million to $130 million, with an existing investor subscribing for an additional $15 million note.

The amendment deed was entered into on July 16, 2026. Following the amendment, the initial investor agreed to subscribe for a new 2025 convertible note with a principal amount of $15 million.

The 2025 convertible notes were originally issued under a note purchase agreement dated November 3, 2025, as part of a refinancing of convertible notes issued in 2022. The initial investor purchased $35 million at the outset, with the remaining principal amount of the original $100 million facility fully subscribed during Q4 2025 and Q1 2026.

The notes carry a conversion price of $2.62 per share, subject to customary adjustments, and are due in 2028. The initial investor also transferred $15 million of its original note to an international investment bank and securities firm based outside China.

Ziyu Shen, Founder and CEO of ECARX, said the incremental capital "will support the continuous iteration, R&D upgrade and commercial scaling of our full-stack automotive intelligence platform, further strengthen our balance sheet, and drive sustainable long-term shareholder value creation."

ECARX is headquartered in London and listed on Nasdaq in 2022.

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