Xpeng subsidiary Dogotix raises US$600 million from IDG, Alibaba, Tencent, Gaorong Ventures in Series A round
XPEV•Impact on Xpeng's stake
Assuming full warrant exercise and full incentive-plan use, Xpeng’s Dogotix stake falls from 100% to about 68.41%.
Series A financing details
Xpeng subsidiary Dogotix has signed a share purchase agreement for a $900 million equity financing that will dilute Xpeng’s stake in Dogotix.
Dogotix unit XPeng Dogotix will buy 98,675,200 Series A preferred shares for USD 200 million at an implied USD 5 billion pre-money value.
IDG Capital, Alibaba, Tencent and Gaorong will invest USD 600 million for 296,025,600 Series A preferred shares; up to USD 15 million additional investment is reserved.
Executive vehicles and warrants
Two executive-controlled vehicles will subscribe for USD 100 million of 49,337,600 ordinary shares.
Warrants cover with a .
