Kaixin Auto(US:KXIN)2023-05-15 16:00Share Issuance - Kaixin Auto Holdings issued 50,000 Series F Convertible Preferred Shares, convertible into 50 million ordinary shares, to Stanley Star Group Inc on May 4, 2023[2] - The issuance of Series F Preferred Shares was part of a securities purchase agreement and was closed upon approval from the Cayman Islands authorities[2] - The offer and sale of the Series F Preferred Shares were not registered under the U.S. Securities Act of 1933[3] - Kaixin Auto Holdings provided indemnification to Stanley Star and related persons against losses from breaches of the agreement[3] Forward-Looking Statements - The company’s forward-looking statements include expectations regarding future business development and market acceptance of services[4] - Risks associated with forward-looking statements include competition in the industry and government regulations affecting operations[4]