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Top related persons:
Mike Blake - 1 VinFast - 1 Pham Nhat Vuong - 1 Ford - 1 – - 1 David Mansfield - 1 Vuong - 1 Mark Angelo - 1
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2 mentions found


☆ EV maker VinFast strikes shares deal with Yorkville for up to $1 billion
  + stars: | 2023-10-20 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Oct 20 (Reuters) - Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets. VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of ordinary shares in VinFast at any time during the term of the agreement, VinFast said in a filing to the U.S. securities authority. VinFast so far has sold around 22,000 cars, aiming to meet this year's sale target of 40,000 to 50,000 units. Yorkville two years ago bought up to $400 mln worth of share in EV maker Lordstown. In April it said it would receive a fresh round of funding pledges worth $2.5 billion for its future development, of which $1 billion would be from its founder's pocket.
Persons: Mike Blake, VinFast, Pham Nhat Vuong, Ford, –, David Mansfield, Vuong, Mark Angelo, VinFast's, Tesla, Phuong Nguyen, Jason Neely, Martin Petty Organizations: Los Angeles Auto, REUTERS, Rights, U.S, Yorkville Advisors, Nasdaq, Yorkville, Lordstown, Thomson Locations: Los Angeles , California, U.S, Rights HANOI, Yorkville, VinFast, Vietnam
☆ EV startup Faraday Future signs deal to raise up to $350 mln
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: +1 min
Nov 14 (Reuters) - Faraday Future Intelligent Electric (FFIE.O) said on Monday it had signed a deal to raise up to $350 million as the electric-vehicle startup looks to roll out its FF 91 luxury car. The company said that financing from an affiliate of Yorkville Advisors Global at an initial commitment of $200 million gives it financial flexibility to help start production and deliver its car to customers. Faraday Future settled a governance dispute in September and raised $100 million after it said a "misinformation campaign" and threats against some board members had affected its fundraising efforts. Shareholders last week approved a reverse stock split proposal after the company received a notice from the Nasdaq Stock Market on failing to maintain a minimum bid price of at least $1 per share for 30 consecutive sessions. Reporting by Akash Sriram in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
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