TAIPEI (Taiwan News) — Taiwan's electric scooter maker Gogoro announced on Tuesday (June 3) that Gold Sino Assets Limited (Gold Sino) has agreed to invest US$50 million (NT$1.62 billion) in the company.
Under the deal, the electric scooter maker will issue 32,516,095 ordinary Gogoro shares at a par value of US$0.0001 per share, for an aggregate purchase price of US$50 million, reflecting a per share purchase price of around US$1.54. Gogoro will also issue a warrant to buy 10,838,698 ordinary shares with a per-share exercise price of US$1.69.
The deal is expected to close within the next few days, according to a Gogoro press release. Gogoro said the funding will continue the company’s growth and development in Taiwan and its international expansion plans.
“As Gogoro continues growing its lead in Taiwan and in its expansion markets, it is important that it continues to have the resources and flexibility to operate efficiently and continue to deliver cutting-edge innovation, unparalleled customer experience, and great value to customers,” said Dr. Samuel Yin (尹衍樑) of Gold Sino and chair of Ruentex Group.
“Our partnership with Dr. Yin, Gold Sino, and Ruentex Group goes back to Gogoro’s founding,” said Horace Luke (陸學森), founder and CEO of Gogoro. “This investment is a strong testament to Gogoro’s business model and vision for growing our business globally.”
On Friday (May 31), Gogoro announced that through a partnership with Colombian fuel company Terpel it launched its battery-swapping system and Smartscooters in Bogota, Colombia. Battery swapping stations are initially located at four Terpel service stations in the city, with plans to expand to 14 locations by the end of 2024.