Geely backs Lotus Technology (LOT) with $128,324,684.58 senior convertible note

Rhea-AI Filing Summary

Lotus Technology Inc. entered into a private convertible note deal with Geely International (Hong Kong) Limited. Geely will purchase a senior convertible note with an aggregate principal of US$128,324,684.58, providing short-term financing that can later turn into equity.

The note matures 364 days after issuance and carries interest at the secured overnight financing rate (SOFR) on the issue date plus 3.35%, payable at maturity. Starting from the 30th trading day after the issue date, Geely may convert the note into Lotus ordinary shares or ADSs at a price based on the 10-day volume-weighted average ADS price before conversion. The note ranks senior to all other present and future unsecured and unsubordinated debt of Lotus and its subsidiaries, except for certain legally preferred obligations and a separate US$10,000,000 note issued to ATW in August 2025.

Insights

Capital structure analyst

Lotus secures sizeable, short-term, equity-linked funding from a strategic investor.

Lotus Technology Inc. is raising US$128,324,684.58 through a one-year senior convertible note purchased by Geely International (Hong Kong) Limited. The note pays interest at SOFR plus 3.35%, with all interest due at maturity, concentrating cash repayment into a single date.

The note is convertible into ordinary shares or ADSs beginning on the 30th trading day after issuance, at a price set by the 10-day volume-weighted average ADS price before conversion. This structure ties potential equity issuance directly to future market levels and Geely’s conversion choices.

The note ranks ahead of other unsecured, unsubordinated debt, aside from mandatory legal preferences and a prior US$10,000,000 note to ATW from August 2025. The eventual mix of cash repayment versus equity conversion will depend on Geely’s decisions and Lotus’s share performance. Subsequent filings may detail any conversions or refinancing steps.

Key Figures

Convertible note principal: US$128,324,684.58 Interest rate spread: SOFR + 3.35% per annum Maturity: 364 days after issue date +2 more

5 metrics

Convertible note principal US$128,324,684.58 Aggregate principal amount of Geely senior convertible note

Interest rate spread SOFR + 3.35% per annum Coupon on Geely senior convertible note

Maturity 364 days after issue date Tenor of Geely senior convertible note

Conversion start 30th trading day after issue First date investor may convert note into shares/ADSs

ATW note principal US$10,000,000 Initial note issued to ATW in August 2025

Key Terms

convertible note, secured overnight financing rate (SOFR), American depositary shares, volume-weighted average, +1 more

5 terms

convertible note financial

"entered into a convertible note purchase agreement (the “Purchase Agreement”)"

A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.

secured overnight financing rate (SOFR) financial

"will bear an interest rate per annum equal to the secured overnight financing rate (SOFR)"

A secured overnight financing rate (SOFR) is the interest rate on very short, one‑day loans that are backed by high‑quality collateral (like government bonds), so lenders face less risk. Investors care because SOFR is a widely used benchmark that sets the cost of borrowing and the pricing of loans, bonds and derivatives; think of it as a trusted yardstick for short‑term interest costs that influences returns and valuations across markets.

American depositary shares financial

"convertible into ordinary shares or American depositary shares (“ADSs”) of the Company"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

volume-weighted average financial

"initial conversion price will equal to the volume-weighted average of the last reported sale price"

A volume-weighted average is a number that combines different values by giving more influence to those associated with larger trading size — for example, prices tied to many shares traded count more than prices tied to few shares. For investors it shows the price level where most trading actually happened, serving as a truer “center” than a simple average and helping judge whether recent trades were heavy or light compared with typical activity.

pre-effective amendment regulatory

"incorporated by reference into the pre-effective amendment No. 1 to the registration statement"

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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-
16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-41970

Lotus Technology Inc.

(Translation of registrant’s name into English)

No. 800 Century Avenue

Pudong District, Shanghai, People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x      Form 40-F o

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

Geely Senior Convertible Note

On June 12, 2026, Lotus Technology Inc. (the “Company”) entered into a convertible note purchase agreement (the “Purchase Agreement”) with Geely International (Hong Kong) Limited (the “Investor”), pursuant to which the Investor agrees to purchase from the Company and the Company agrees to issue to the Investor a convertible note (the “Note”) in the aggregate principal amount of US$128,324,684.58 through a private placement. The closing of the transaction is subject to customary closing conditions and is expected to take place in June 2026.

The Note will mature on the 364^th day following the date of issuance and will bear an interest rate per annum equal to the secured overnight financing rate (SOFR) on the issue date plus 3.35%, payable on the maturity date. Subject to the terms of the Note, the Note may be convertible into ordinary shares or American depositary shares (“ADSs”) of the Company at the option of the Investor starting from the 30th trading days after the applicable issue date. The initial conversion price will equal to the volume-weighted average of the last reported sale price of the Company’s ADSs over the 10 consecutive trading days immediately preceding the applicable conversion date. Unless otherwise agreed upon by the Investor, the Note will rank senior to all other present and future unsecured and unsubordinated indebtedness of the Company and its subsidiaries, other than (i) those preferred by applicable law that are mandatory and of general application and (ii) the initial note in the original principal amount of US$10,000,000 issued by the Company to ATW in August 2025.

Copies of the Purchase Agreement and the Note are included in this current report on Form 6-K as Exhibit 10.1 and Exhibit 10.2 and the foregoing description of the Purchase Agreement and the Note is qualified in its entirety by reference thereto.

Incorporation by Reference

This current report on Form 6-K, including the exhibits hereto, is incorporated by reference into the pre-effective amendment No. 1 to the registration statement on Form F-3 (File No. 333-285533), post-effective amendment No. 3 to the registration statement on Form F-1 on Form F-3 (File No. 333-279108) and the post-effective amendment No. 2 to the registration statement on Form F-1 on Form F-3 (File No. 333-282217) and shall be a part of such registration statements from the date on which this current report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

EXHIBIT INDEX

Exhibit No.		Description
10.1		Convertible Note Purchase Agreement, dated June 12, 2026, by and between Lotus Technology Inc and Geely International (Hong Kong) Limited
10.2		Form of Convertible Note

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Lotus Technology Inc.

	By	:	/s/ Daxue Wang
	Name	:	Daxue Wang
	Title	:	Chief Financial Officer

Date: June 15, 2026

FAQ

What financing did Lotus Technology Inc. (LOT) announce in this 6-K?

Lotus Technology agreed to issue a senior convertible note with principal of US$128,324,684.58 to Geely International (Hong Kong) Limited. The note is sold through a private placement and provides short-term funding that can later be converted into Lotus ordinary shares or ADSs at the investor’s option.

What are the key terms of Lotus Technology’s Geely senior convertible note?

The Geely note has principal of US$128,324,684.58, matures 364 days after issuance, and accrues interest at SOFR on the issue date plus 3.35%, payable at maturity. It is senior unsecured debt, ranking ahead of other unsecured and unsubordinated obligations, with limited specified exceptions.

When and how can the Geely note convert into Lotus Technology shares?

Starting on the 30th trading day after the note’s issue date, Geely may convert the note into Lotus ordinary shares or ADSs. The initial conversion price equals the volume-weighted average of the last reported ADS sale prices over the 10 consecutive trading days immediately before the chosen conversion date.

How does the Geely convertible note rank versus other Lotus Technology debt?

Unless Geely agrees otherwise, the note ranks senior to all other present and future unsecured, unsubordinated debt of Lotus and its subsidiaries. The only exceptions are obligations mandatorily preferred by applicable law and a separate US$10,000,000 note Lotus issued to ATW in August 2025.

When is the Lotus Technology and Geely convertible note transaction expected to close?

The transaction is expected to close in June 2026, subject to customary closing conditions. Closing will occur after those conditions are satisfied, at which point the note will be issued and funds provided under the private placement structure described in the report.

How is this 6-K related to Lotus Technology’s existing registration statements?

This report, including its exhibits, is incorporated by reference into Lotus’s pre-effective amendment No. 1 to its Form F-3 and two post-effective amendments on Form F-1 on Form F-3. It becomes part of those registration statements from the furnishing date, unless later filings supersede it.

Filing Exhibits & Attachments

2 documents

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 202.1 KB
• EX-10.2 EXHIBIT 10.2 153.3 KB