ECARX Announces Completion of the Final Tranche of US$100 million Convertible Notes

ECARX (Nasdaq: ECX) announced full subscription of a US$100 million convertible note offering as of Feb 9, 2026.

Rhea-AI Summary

ECARX (Nasdaq: ECX) announced full subscription of a US$100 million convertible note offering as of Feb 9, 2026. Purchases closed in three tranches: US$35M (Nov 14, 2025), US$25M (Nov 26, 2025), and US$40M (Feb 9, 2026).

Issued notes carry an initial conversion price of US$2.62 (subject to customary adjustments). The offering was jointly purchased by SPDB International (Hong Kong), ICBC International Investment Management, CNCB (Hong Kong) Investment, and a global investment institution. The company says the financing refinanced US$65M of prior notes and added US$35M in new funding, alongside a US$45.6M strategic investment from Geely in Jan 2026.

Positive

• US$100 million convertible offering fully subscribed by Feb 9, 2026
• Refinanced US$65 million of prior convertible notes
• Secured an additional US$35 million in new funding
• Received US$45.6 million strategic investment from Geely in Jan 2026
• Transaction backed by four institutional investors including SPDB and ICBC

Negative

• Issued convertible notes carry an initial conversion price of US$2.62
• Outstanding convertible securities may create dilution risk upon conversion

Argus Feb 10 session

+10.71% close to close Open Argus

Details

News Market Reaction – ECX

On Feb 10, the day this news came out, ECX closed 10.71% above the previous close.

Data tracked by StockTitan Argus for the Feb 10 session.

Key Figures

Convertible notes total: US$100 million Initial tranche: US$35 million Second tranche: US$25 million +5 more

Convertible notes total

US$100 million

Aggregate 2025 Notes under November 3, 2025 purchase agreement

Initial tranche

US$35 million

Purchased by Initial Investor on November 14, 2025

Second tranche

US$25 million

Purchased by another investor on November 26, 2025

Final tranche

US$40 million

Purchased by consortium of investors on February 9, 2026

Conversion price

US$2.62

Initial conversion price for 2025 Notes, subject to adjustments

Refinanced notes

US$65 million

Portion of previous convertible notes refinanced through this transaction

New funding

US$35 million

Additional capital obtained beyond refinancing from 2025 Notes

Geely investment

US$45.6 million

Strategic investment completed in January 2026

Historical Context

5 past events · Latest: Feb 02

5 events

1. Feb 02

   Product platform debut

   24h Move

   +5.0%

   Debut of Zenith computing platform with Snapdragon Elite at CES 2026.

2. Jan 23

   Earnings call notice

   24h Move

   -0.9%

   Announcement of Q4 and full-year 2025 results release and conference call.

3. Jan 12

   Strategic equity investment

   24h Move

   -3.1%

   US$45.6M Geely private placement to fund R&D and global expansion.

4. Dec 29

   Strategic partnership stake

   24h Move

   +1.0%

   US$23M investment in Lotus Technology to deepen deployment of ECARX platforms.

5. Nov 13

   OEM partnership expansion

   24h Move

   +5.3%

   Expanded Volkswagen Group award for digital cockpit solutions in Latin America.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

convertible notes, conversion price

2 terms

convertible notes financial

"the aggregate US$100 million in convertible notes (the "2025 Notes")"

Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.

conversion price financial

"All of the issued 2025 Notes have an initial conversion price of US$2.62"

The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LONDON, Feb. 10, 2026 /PRNewswire/ -- ECARX Holdings Inc. (Nasdaq: ECX) ("ECARX" or the "Company"), a global mobility tech provider, today announced that the aggregate US$100 million in convertible notes (the "2025 Notes") contemplated by the convertible note purchase agreement entered into on November 3, 2025 (the "2025 Note Purchase Agreement"), as previously announced, have been fully subscribed as of February 9, 2026. 

Pursuant to the 2025 Note Purchase Agreement, US$35 million of the 2025 Notes was purchased by the Initial Investor on November 14, 2025, and was followed by the purchase of US$25 million of the 2025 Notes by another investor on November 26, 2025. The remaining US$40 million of the 2025 Notes was purchased by a consortium of investors on February 9, 2026. All of the issued 2025 Notes have an initial conversion price of US$2.62, subject to customary adjustments set forth therein.

The US$100 million offering was jointly purchased by SPDB International (Hong Kong) Limited, ICBC International Investment Management Limited, CNCB (Hong Kong) Investment Limited, and a global investment institution.

Mr. Ziyu Shen, Chief Executive Officer and Chairman of ECARX, commented: "In 2025, we secured two major projects from Volkswagen Group and established technology partnerships with several global luxury automotive brands. This strategic capital commitment serves as a powerful endorsement of our global expansion strategy. With the completion of this transaction, we successfully refinanced US$65 million of our previous convertible notes and obtained an additional US$35 million in funding, further strengthening our capital structure. Combined with the US$45.6 million strategic investment from Geely in January 2026, we now have ample liquidity to drive our vision of becoming a leading Automotive Physical AI technology innovator."

About ECARX

ECARX (Nasdaq: ECX) is a global automotive technology provider with capabilities to deliver turnkey solutions for next–generation smart vehicles, from the system–on–a–chip (SoC) to central computing platforms and software. As automakers develop new vehicle architectures, ECARX is developing full–stack solutions to enhance the user experience while reducing complexity and cost.

Founded in 2017 and listed on Nasdaq in 2022, ECARX now has over 1,500 employees based in 13 major locations in China, UK, USA, Brazil, Singapore, Malaysia, Sweden and Germany. To date, ECARX products can be found in approximately 10 million vehicles worldwide.

Forward-Looking Statements

This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of words "expects", "intends", "anticipates", "estimates", "predicts", "believes", "should", "potential", "may", "preliminary", "forecast", "objective", "plan", or "target", and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate.

For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement, see ECARX's filings with the U.S. Securities and Exchange Commission. ECARX undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law.

 

 

 

View original content:https://www.prnewswire.com/news-releases/ecarx-announces-completion-of-the-final-tranche-of-us100-million-convertible-notes-302683710.html

SOURCE ECARX Holdings Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ECARX (ECX) announce about the US$100 million convertible notes on Feb 9, 2026?

ECARX said the US$100 million convertible note offering was fully subscribed as of Feb 9, 2026. According to the company, the notes were purchased in tranches of US$35M, US$25M, and US$40M between Nov 2025 and Feb 2026.

Who purchased ECARX's (ECX) US$100 million 2025 convertible notes?

The offering was jointly purchased by SPDB International (Hong Kong), ICBC International Investment Management, CNCB (Hong Kong) Investment, and a global investment institution. According to the company, these investors collectively subscribed the full US$100 million.

What is the initial conversion price for ECARX's (ECX) 2025 Notes and what does it mean?

The initial conversion price is US$2.62 per share, subject to customary adjustments. According to the company, this price determines the share conversion rate and may affect share count if notes convert in the future.

How did the US$100 million financing affect ECARX's (ECX) capital structure?

ECARX said the transaction refinanced US$65 million of prior convertible notes and added US$35 million of new funding. According to the company, this strengthens liquidity alongside a US$45.6 million strategic investment from Geely in Jan 2026.

When were the tranches of ECARX's (ECX) 2025 Notes purchased and what were their sizes?

Tranches closed on Nov 14, 2025 (US$35M), Nov 26, 2025 (US$25M), and Feb 9, 2026 (US$40M). According to the company, those three tranches together completed the US$100 million offering.