XIAMEN, China, June 3, 2020 /PRNewswire/ -- Qudian, Inc.
(NYSE: QD) (together with its affiliates, "Qudian"), a leading
technology platform empowering the enhancement of online consumer
finance experience in China, and
Secoo Holding Limited (NASDAQ: SECO) (together with its
affiliates, "Secoo"), Asia's
largest online integrated upscale products and services platform,
announced today that Qudian and Secoo have entered into a
definitive agreement, pursuant to which Qudian has agreed to
purchase a total of up to 10,204,082 newly issued Class A ordinary
shares of Secoo for an aggregate purchase price of up to
US$100,000,003.60, reflecting a per
share purchase price of US$9.80.
Following the completion of all transactions contemplated under
the definitive agreement, Qudian will hold approximately 28.9% of
Secoo's issued and outstanding shares, becoming its largest
shareholder.
In addition, Qudian and Secoo will also enter into a business
cooperation agreement, which will set forth the key areas for the
two companies' strategic cooperation in the online luxury
e-commerce business space.
"This strategic partnership leverages both companies' resources,
capabilities, industry expertise and market presence, while
fostering collaboration in supply chain management, user
acquisition and retention, quality appraisals, post-sales services,
and financing solutions," said Mr. Min
Luo, Founder, Chairman and Chief Executive Officer of
Qudian. "Our partnership will bring
value to both Secoo and our Wanlimu platform, launched earlier this
year, and also establish a good foundation for a better user
experience for our customers. We believe this strategic investment
in Secoo will fuel opportunities for expansion and success on both
platforms."
Mr. Rixue Li, Founder, Chairman and Chief Executive Officer of
Secoo, said, "We believe this strategic partnership will enable us
to accelerate growth by building upon both companies' assets, core
expertise and competitive advantages. We will utilize the
investment proceeds to further strengthen the supply chain and
enhance user satisfaction."
The transaction is subject to customary closing conditions and
is expected to be consummated in two separate closings in the near
future. Qudian has agreed not to sell, transfer or dispose of any
shares acquired in the transaction for twelve months after the
first closing, subject to certain limited exceptions.
The share issuance is exempt from registration under the
Securities Act of 1933, as amended, (the "Securities Act") pursuant
to Section 4(2) of the Securities Act regarding transactions not
involving a public offering or is made in reliance on, and in
compliance with, Regulation S under the Securities Act.
About Qudian Inc.
Qudian Inc. ("Qudian") is a leading technology platform
empowering the enhancement of online consumer finance experience in
China. The Company's mission is to
use technology to make personalized credit accessible to hundreds
of millions of young, mobile-active consumers in China who need access to small credit for
their discretionary spending but are underserved by traditional
financial institutions due to lack of traditional credit data or
high cost of servicing. Qudian's credit solutions enable licensed,
regulated financial institutions and ecosystem partners to offer
affordable and customized loans to this young generation of
consumers.
For more information, please
visit http://ir.qudian.com.
About Secoo
Secoo Holding Limited ("Secoo") is Asia's largest online integrated upscale
products and services platform as measured by GMV in 2016. Secoo
provides customers a wide selection of authentic upscale products
and lifestyle services on the Company's integrated online and
offline shopping platform which consists of the Secoo.com website,
mobile applications and offline experience centers, offering over
400,000 SKUs, covering over 3,800 global and domestic brands.
Supported by the Company's proprietary database of upscale
products, authentication procedures and brand cooperation, Secoo is
able to ensure the authenticity and quality of every product
offered on its platform.
For more information, please visit http://ir.secoo.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency, contain forward-looking statements. Qudian may also
make written or oral forward-looking statements in its periodic
reports to the SEC, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Qudian's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: Qudian's
goal and strategies; Qudian's expansion plans; Qudian's future
business development, financial condition and results of
operations; Qudian's expectations regarding demand for, and market
acceptance of, its credit products; Qudian's expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Qudian's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Qudian does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries regarding Qudian, please
contact:
Qudian Inc.
Tel: +86-592-591-1711
E-mail: ir@qudian.com
The Piacente Group, Inc.
Xi Zhang
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
For investor and media inquiries regarding Secoo, please
contact:
In China:
Secoo Holding Limited
Jingbo Ma
Tel: +86 10 6588-0135
E-mail: ir@secoo.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: Secoo@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: Secoo@tpg-ir.com
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SOURCE Qudian Inc.