NWTN Secures $100 Mln UAE Strategic Investment From SEET

(RTTNews) - NWTN Inc. (NWTN), a UAE-based technology and manufacturing firm, Wednesday announced a US$100 million equity investment from SEET LLC, a subsidiary of Medad Holding.

Under a newly executed Share Purchase Agreement, SEET will acquire newly issued NWTN shares and partner in deploying "Smart Mobility, Smart Device, Smart Contract" solutions across urban transport, AI, clean energy and blockchain.

Upon closing, SEET will become NWTN's largest shareholder, reinforcing NWTN's leadership in high-end manufacturing and sustainable technologies.

NWTN is currently trading at $1.84, down $0.06 or 3.20 percent onn the Naadaq.