Luckin Coffee debtor approves the reorganization plan! Luckin Coffee has stabilized by issuing two announcements in a row to announce the progress of development.
On December 1, 2021, Luckin Coffee's official website issued two announcements, mainly announcing the investment agreement reached between Luckin Coffee and Centurium Capital and the arrangement plan approved by Luckin Coffee's creditors.
It is understood that Lucky held a creditors' meeting in the Cayman Islands on November 30, Beijing time, focusing on the previously announced arrangement plan for "restructuring its $460 million due in 2025 to convert priority claims into 0.75% of the total amount."
According to the official announcement, the plan creditors (in person or entrusted agents) voted unanimously to approve the plan after attending the meeting. 56 plan creditors attended the meeting, showing that the negotiable instruments were 97.7% of the total fantasy principal. As a result, the plan has been approved by the necessary majority of plan creditors.
After obtaining the approval of the creditors, the Cayman court will hold a hearing on Lucky's sanctions plan at 10:00 local time on December 13, 2021. At that time, all scheme creditors will have the right to attend, hear and be heard.
If approved by the court, this means that the $460 million debt will be paid off in full at a price of $3.45 million by 2025. This is a far cry from Luckin Coffee's cumulative loss of about 10.388 billion yuan from 2018 to 2020. The data comes from the results for the first half of 2021 published on Luckin Coffee's official website.
In September, Ruixing's share price rose more than 5% after it announced that the company's restructuring plan had achieved its multi-stage goals, the highest since April 2020. It is expected that the plan of convertible priority claims will also have a more positive effect on Luckin Coffee's stock market.
Luckin Coffee director and CEO Guo Jinyi said: "this development is an important step in the continuous restructuring of the company." The overwhelming support of creditors attests to the progress made by our updated board of directors and leadership team, as well as the positive momentum we have generated. "
According to the company's investigation, Luckin Coffee's most recent financing was in April this year, with 250 million US dollars jointly raised by Dawei Capital and pleasure Capital. On December 1, Lucky also announced the completion of the relevant investment agreement led by Century Capital (Centurium Capital).
At present, it is known that Luckin Coffee has completed all the contents of his investment agreement with pleasure Capital, totaling about US $10 million in senior preferred shares. The capital obtained from the investment will be used for the expansion of Luckin Coffee's core coffee business, the implementation of the business plan and the realization of long-term growth goals. This and Guo Jinyi's statement "will focus on our own development strategy to achieve sustained growth and profitability, while providing excellent products and services to our customers and meaningful value to our shareholders." Consistent.
Indeed, Luckin Coffee has made a major breakthrough in products this year, frequently appearing popular drinks, and is also seeking the differential development of coffee-related products. In 2021, Luckin Coffee's first baking base was officially put into production, with a total investment of 210 million yuan, an area of 45000 tons and an annual roasting capacity of 15000 tons of coffee beans. It is the only automatic and intelligent baking base for the whole production line in the country. This also means that Luckin Coffee will gradually break through and realize the extension of the whole industry chain.
Is Luckin Coffee stable? Not yet!
From January to September this year, there were 21 related project financing events in the coffee field, with a financing amount of more than 4.6 billion yuan. The contestants of the coffee track are entering the game one after another. Brands that get financing are also expanding wildly, which means Luckin Coffee needs to grab more market share if he wants to take the lead in the Chinese coffee market.
Photo source: Luckin Coffee's official website
- Prev
How to choose household coffee beans? how to easily pick your favorite coffee beans?
In the face of a variety of coffee beans on display from coffee shops, I think of the scene when I was a child in front of soy sauce shelves. After hearing the recommendation of my friend, I happily bought the brewing equipment and decided to make my own coffee at home to add a little sense of life rituality. unexpectedly, I didn't expect the coffee beans lined up by bean shelves before they had finished depicting them.
- Next
Blue bottle Coffee business development and human production of Chao brand clothing and cooperation with the time-honored brand du Song'an pastry shop
Old fans of the coffee shop should know that blue bottle coffee has been "out of business" for a long time. Either open a shop with Chaopai or tamper with new furniture with the furniture factory. In fact, the purpose of various joint names is only to create a new series of products. In a previous article, the coffee workshop reported the relationship between Blue bottle Coffee and HUMANMADE.
Related
- The design principle of the V60 filter cup! Why is the V60 filter cup called V60? What is the difference between a V60 hand-brewed coffee filter cup and a cake filter cup? Who invented the V60?
- Why does mocha pot coffee smell burnt? How to adjust the coffee extract in the mocha pot? What should I do if the coffee in the mocha pot is burnt? Why is mocha pot coffee so easy to overpower?
- Why can't cappuccinos be made takeout? What is the ratio of coffee to milk in a cappuccino? How thick is the milk foam in capuccino? What does Capuccino mean?
- How to make silky and strong salty mocha coffee? How to make a delicious mocha latte? What is the difference between latte and mocha coffee?
- How to use the Aiyue coffee press machine? Who invented Aiyue Pressure? What is the difference between Aiyue brewed coffee and hand-brewed coffee? What is the principle of coffee extraction from Aiyue Pressure?
- How to make the world's top coffee Yejia Xuefei? What are the characteristics of Yejia Shefi coffee? What is the flavor of Yejia Shefei? How to solve the blockage during lightly baked beans?
- What does long extract coffee mean? What is the difference between long-extract coffee and American coffee? What is the difference between Lungo and American coffee? What is Lungo Coffee?
- What does under-extracted coffee taste like? What are the characteristics of over-extracted coffee? How to tell if coffee is over-extracted or under-extracted?
- Why isn't Dirty hot? What is Dirty in espresso? What should I do with hot Dirty?
- Share the correct way to make hanging ear coffee! How much water should I use to make my ear coffee? How many stages does the water injection of hanging ear coffee need to be divided into? How much water does it take to put in hanging ear coffee? How to m