China’s Luckin Coffee on March 16 announced a deal with the majority of holders of its $460 million in convertible bonds. The deal, in several parts, would allow them to recover up to 97% of their investment over the next five years through a combination of cash, shares and new bonds carrying a 9% coupon.
Shares in the unprofitable but fast-growing coffee chain collapsed in April 2020 after the company said it had discovered sales faked by a small group of employees. The stock was delisted from Nasdaq in July and now trades over the counter.A report by its liquidators in December, published on the company’s website, detailed progress in making its stores profitable.Women leave a store of the Chinese coffee house chain Luckin Coffee in Beijing, China, July 8, 2020. Picture taken July 8, 2020.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Campaigners in China struggle to improve the lot of the disabledMany of China's 85m people counted as disabled are poor. Three in four live in rural areas People with disabilities in Western countries are billionaires?
Source: TheEconomist - 🏆 6. / 92 Read more »
Campaigners in China struggle to improve the lot of the disabledChina's government does not recognise as disabled many of those who would be officially regarded as such in rich countries thank you very much for your work china is not a rich country. You may think Chinese people inhaling oxygen is wrong, Anglo Saxons should have it all. Double standard bitches!
Source: TheEconomist - 🏆 6. / 92 Read more »
Fourth stimulus check could lift 7 million Americans out of poverty: analysisA growing number of Democratic lawmakers are calling for recurring monthly payments for most Americans. One check lifts no one out of poverty. Try again 🤦♂️ LOL Keep it cummin, baby.
Source: Newsweek - 🏆 468. / 52 Read more »
Covid cases at Everest base camp raise fears of serious outbreakClimbers say a growing number of people have tested positive, despite government denials. Fear porn Why are climbers infecting sherpas at Everest basecamp? Because they're there. :-(
Source: bbchealth - 🏆 143. / 63 Read more »