VinFast (VFS) signs independent dealership agreements
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BTIG starts VinFast (VFS) at Buy; anticipates increased production in 2024
January 3, 2024 9:40 AM ESTBTIG initiated coverage on VinFast Auto (NASDAQ: VFS) with a Buy rating and set their 12-month price target at $10.00 for the Vietnamese automaker.
The automaker successfully entered the U.S. market, initiating direct deliveries of their first electric vehicles to American customers at the beginning of 2023. However, the company disclosed in December that they have formed a partnership with... More
VinFast Auto (VFS) Enters into Securities Purchase Agreement
January 2, 2024 6:05 AM ESTOn December 29, 2023, VinFast Auto (NASDAQ: VFS) entered into a securities purchase agreement (the Securities Purchase Agreement) with YA II PN, Ltd. (Yorkville), a fund managed by Yorkville Advisors Global, LP, headquartered in Mountainside, New Jersey. Pursuant to the Securities Purchase Agreement, the Company agreed to issue and sell to Yorkville a convertible debenture (the Convertible Debenture) in the principal amount of $50.0 million, which are convertible into ordinary shares of the Company (as converted, the Conversion Shares) for a purchase price of $48.75 million, on the terms and subject to the conditions set forth therein. The obligations of the... More
