AAV Chief EHang Proclaims $23M Non-public Placement Led by South Korean Entrepreneur Lee Soo Man
by DRONELIFE Employees Author Ian M. Crosby
Autonomous aerial car (“AAV”) know-how platform chief EHang Holdings has introduced its entry into share subscription agreements for a complete of US$23,000,000 non-public placement with a number of strategic buyers led by South Korean file producer and SM Leisure founder Lee Soo Man.
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EHang will obtain a deposit of 80% of the mixture buy value for the proposed placement from the buyers, with the transaction anticipated to shut within the third quarter of 2023. Along with the non-public placement, Mr. Lee Soo Man will collaborate with EHang to advance the event of City Air Mobility in Asian Pacific areas by using the strengths of each events.
EHang will put the gross proceeds from the location in direction of working capital and basic company functions, permitting for the acceleration of strategic plans for know-how development, enterprise improvement and post-certification business operations. These developments will allow EHang to cement its place as a pacesetter within the world UAM trade.
“I used to be impressed by Mr. Lee’s curiosity and fervour in direction of modern applied sciences, future air mobility, and our autonomous aerial autos,” mentioned EHang Founder, Chairman and CEO Huazhi Hu. “We’re thrilled to have long-term strategic buyers and companions, comparable to Mr. Lee, who share the identical values and dedication in our journey. The position and partnership are testaments to the belief and perception in EHang’s imaginative and prescient and prospects, propelling the Firm into our subsequent part of progress.”
“I recognize EHang’s unwavering dedication to enabling secure, autonomous and eco-friendly air mobility for most of the people, as the primary mover and a number one innovator within the rising UAM trade with nice potential,” mentioned Lee Soo Man. “I’m excited to embrace alternatives and contribute to its progress by means of investing and collaborating with EHang as a long-term investor. I look ahead to the convergence of cutting-edge transportation applied sciences and standard tradition to create sustainable worth, and I’m proud to be a part of it.”
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Ian attended Dominican College of California, the place he obtained a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in know-how, he’s now contributing to DroneLife as a employees author.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, knowledgeable drone companies market, and a fascinated observer of the rising drone trade and the regulatory atmosphere for drones. Miriam has penned over 3,000 articles centered on the business drone area and is a world speaker and acknowledged determine within the trade. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand spanking new applied sciences.
For drone trade consulting or writing, E mail Miriam.
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