October 20, 10 - VinFast Auto Ltd (Nasdaq stock code: VFS) announced the signing of an agreement with YA II PN fund (Yorkville) to purchase VFS shares. Accordingly, VinFast has the right to issue up to 2023 billion USD of VFS common shares to Yorkville, at any time according to the terms and conditions of the agreement.
Yorkville Advisors is an American investment management fund with more than 20 years of experience investing in listed companies. Yorkville's investment criteria focus on the management team, business fundamentals and stock trading indices.
Under the agreement, VinFast will have the right to require Yorkville to purchase up to $1 billion of VFS common shares, at any time during the 36-month term of the Agreement.
Mr. David Mansfield, Chief Financial Officer of VinFast, said: “New capital source This giving us flexibility and initiative in accessing capital to continue expanding our business globally, while improving the liquidity of the company's shares. We will continue to evaluate optimal capital sources from the international capital market to support VinFast's development process."
Sharing about the agreement, Mr. Mark Angelo, Founder and Chairman of Yorkville, said: “VinFast is truly one of the leaders in the electric vehicle sector. Yorkville is very excited to participate in the development and growth of VinFast. We look forward to witnessing VinFast's continued success in the electric vehicle market in the near future and we are proud to accompany VinFast in its mission for a green future.”
Previously, at the end of April 4, Mr. Pham Nhat Vuong announced a donation of up to 2023 billion VND (equivalent to 24.000 billion USD) to VinFast from his personal assets. Along with Mr. Vuong, Vingroup, which he founded, also announced a non-refundable grant of up to 1 billion VND (equivalent to 12.000 million USD) and a loan of up to 500 billion VND (equivalent to 24.000 billion USD) to Increase resources for VinFast's global growth goals
Vietnam.vn
