![]() We believe that NWTN’s insights on the value of the passenger-centric experience will drive NWTN into a blue ocean market with enormous opportunity, functioning as the hub of future intelligent mobility life,” said Xiaoma “Sherman” Lu, Chief Executive Officer of East Stone. “In NWTN we have found a company that has the vision, courage and talent to change the automobile industry. To achieve this objective, our experienced international team and reputable strategic partners have been working relentlessly on our SPVs, a segment with remarkably untapped market potential where NWTN continues to lead.” Its first model SEVEN and second model MUSE have received industrywide recognition at various global auto shows.Ĭommenting on today’s announcement, NWTN’s Founder and Chairman, Alan Wu, said, “NWTN was born with a mission to bringing a passenger-centric green premium mobility solution to the world. NWTN’s primary target consumers are technology-savvy families and businesses who are becoming increasingly environmentally-conscious. All these technical elements, along with unique design language, contribute to NWTN’s vision of passenger-centric experience. NWTN’s core technology advantages are characterized by modular pure electric platform, digital on-board connectivity system, continuously-upgraded electric and electronic architecture as well as autonomous driving technology. ![]() Headquartered in Dubai, the United Arab Emirates (UAE), NWTN is a green mobility technology company which defines the Smart Passenger Vehicle (“SPV”) as a vehicle concept emphasizing AI technologies, autonomous driving and personalized passenger experience. The transaction represents a post-combination valuation of $2.5 billion ($2,500,000,000) for NWTN upon closing, subject to adjustment. The outstanding shares of NWTN and East Stone will be converted into the right to receive shares of the Pubco. Upon consummation of the two mergers and the other transaction contemplated by the Business Combination Agreement (the “Business Combination”), NWTN, Inc., a newly formed subsidiary (the “Pubco”) will seek to be listed on the Nasdaq Stock Market. More information is available upon request.Burlington, MA and Dubai, UAE, Ap(GLOBE NEWSWIRE) - East Stone Acquisition Corporation (Nasdaq: ESSC) (“East Stone”), a publicly traded special purpose acquisition company, and ICONIQ Holding Limited (“NWTN”) announced today that they have entered into a definitive Business Combination Agreement (the “Business Combination Agreement”). The universe of investors considered in this analysis excludes early-stage venture investors and other investors with an active focus beyond growth equity including public equities. Had ICONIQ Strategic Partners Funds existed at the time of investment, this investment would have been offered and allocated to ICONIQ Strategic Partners Funds. Solely based on ICONIQ’s analysis of information available from Crunchbase and Pitchbook data and includes any company listed on Forbes’ Cloud 100 Best Private Companies from 2016-2021 includes 38 ICONIQ Strategic Partners investments as well as Survey Monkey - ICONIQ advised funds invested in SurveyMonkey prior to the existence of ICONIQ Strategic Partners Funds. ![]() ![]() The financial score is then factored in alongside a people and culture score using third-party data providers, and a market leadership score determined by several dozen of the list nominees’ public CEO peers, who are no longer eligible for the list themselves. Nominated companies submit qualitative and quantitative data (within given ranges) to generate a financial score considering the companies’ valuation, revenue, and growth rate. The Forbes Cloud 100 submissions were accepted during May 2021.
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