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Renren Announces a $6 Million Equity Investment in Kaixin Auto.

source
https://finance.yahoo.com/news/renren-announces-6-million-equity-210000680.html

BEIJING, April 6, 2021

Renren Inc. (NYSE: RENN) ("Renren" or the "Company") announced today that Renren has made a $6,000,000 equity investment in Kaixin by subscribing Kaixin Auto Holdings' ("Kaixin") newly designated convertible preferred shares. The preferred shares are convertible into Kaixin's ordinary shares at a conversion price of $3.00, subject to customary adjustments pursuant to the purchase agreement entered into between Renren and Kaixin, which agreement will be included as an exhibit to a Form 6-K to be furnished by Kaixin to the U.S. Securities and Exchange Commission.

About Renren Inc.
Renren Inc. (NYSE: RENN) operates a leading premium used auto business in China through its subsidiary Kaixin Auto Holdings (NASDAQ: KXIN) as well as several US-based SaaS business. Renren's American depositary shares, each of which currently represents fifteen Class A ordinary shares, trade on NYSE under the symbol "RENN".