Gogoro discloses intention to secure capital through equity acquisitions, led by its director.
Gogoro Inc., a global technology leader in battery swapping ecosystems for sustainable mobility solutions, has announced that significant equity investments may be made in the company. The aggregate investment amount is expected to reach NTD$2,500 million by December 31, 2026.
The equity investments are subject to approval by the audit committee and the board of directors of Gogoro Inc., as well as the applicable approval for any amendments to the syndicated credit facility agreement. An affiliate of the company's largest shareholder, represented by Yin Chung Yao, and an institutional investor have made a commitment to invest in Gogoro's equity shares.
These equity investments are intended to facilitate discussions about a potential further amendment to a syndicated credit facility agreement with Mega International Commercial Bank Co., Ltd. The syndicated credit facility agreement currently provides a 5-year term loan in the amount of NT$10,700,000,000 to Gogoro Network, Taiwan Branch.
It's important to note that these equity investments are not guaranteed and there can be no assurance of their procurement. Similarly, there can be no assurance of any amendments to the syndicated credit facility agreement or any equity investments being procured by Mr. Yin. Any amendments to the syndicated credit facility agreement or any equity investments are subject to further negotiation and execution of definitive agreements or transaction documents.
Gogoro Inc.'s stock is traded on Nasdaq under the ticker symbol GGR. This latest development is part of the ongoing trends in the battery market, as reported in Batteries News.
Gogoro Inc. is a pioneer in the battery swapping industry, offering innovative solutions for electric scooters, motorcycles, and other vehicles. The company's mission is to accelerate the shift towards sustainable urban mobility by providing a seamless, convenient, and eco-friendly charging experience.
As the company continues to grow and innovate, these potential equity investments could play a significant role in its future development and expansion. Stay tuned for more updates on this developing story.
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