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NIO Inc | SC 13D/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-CYVN Investments RSC Ltd(21.7%)

SEC announcement ·  Feb 28 23:52
Summary by Futu AI
On February 26, 2024, CYVN Investments RSC Ltd, an investment firm based in Abu Dhabi, entered into a significant technology license agreement with NIO Inc, a leading electric vehicle manufacturer. The agreement grants Forseven Limited, an affiliate of CYVN Investments, a non-exclusive, non-transferable worldwide license to use NIO's smart electric vehicle technologies. This license will enable Forseven to develop, manufacture, and sell vehicles under its brand, as well as provide after-sales services. The deal includes an upfront license fee and royalties based on Forseven's future sales. Additionally, CYVN Investments, which holds a 21.7% stake in NIO, representing approximately 20.1% of the total ordinary shares, has the right to nominate two directors to NIO's Board of Directors. Eddy Georges Skaf and Nicholas Paul Collins, both affiliated with CYVN Investments, were appointed to the board on February 7, 2024. This strategic partnership and board representation underscore the deepening ties between CYVN Investments and NIO Inc.
On February 26, 2024, CYVN Investments RSC Ltd, an investment firm based in Abu Dhabi, entered into a significant technology license agreement with NIO Inc, a leading electric vehicle manufacturer. The agreement grants Forseven Limited, an affiliate of CYVN Investments, a non-exclusive, non-transferable worldwide license to use NIO's smart electric vehicle technologies. This license will enable Forseven to develop, manufacture, and sell vehicles under its brand, as well as provide after-sales services. The deal includes an upfront license fee and royalties based on Forseven's future sales. Additionally, CYVN Investments, which holds a 21.7% stake in NIO, representing approximately 20.1% of the total ordinary shares, has the right to nominate two directors to NIO's Board of Directors. Eddy Georges Skaf and Nicholas Paul Collins, both affiliated with CYVN Investments, were appointed to the board on February 7, 2024. This strategic partnership and board representation underscore the deepening ties between CYVN Investments and NIO Inc.
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