Kandi Technologies publishes pro forma combined financials after Rawrr deal valued at $23.9 million
KNDI•Kandi Technologies released unaudited pro forma financials reflecting its Rawrr acquisition, valued at $23.9 million. Combined revenue was $103.1 million and net loss was $95.2 million.
1. Combined financials
The pro forma results include $15.66 million in Rawrr revenue from electric off-road motorcycle sales. Total assets were $424.01 million, including $33.42 million in goodwill, of which $10.93 million came from the Rawrr purchase allocation. Equity was $288.08 million, reflecting $18.94 million in consideration through 17.7 million ordinary shares issued at $1.07 each. Kandi’s operating expenses were $94.47 million, including goodwill and long-lived asset impairments.
