Lutus Technology (LOT.US) secures a maximum of $500 million in funding commitments to drive business development and enhance liquidity.

Zhitong Finance APP learned that LOT.US, a leading global provider of luxury smart travel, announced on August 19 that it has signed a securities purchase agreement with ATW Partners, an investment firm based in New York focusing on frontier companies with long-term growth potential. According to the agreement, Lotus will issue convertible notes to ATW Partners with a total principal amount of up to $300 million, which can be converted into common stock of the company and held in the form of American Depositary Shares (ADS).