Yi Gao

The Firm recently represented Gogoro Inc. (“Gogoro,” Nasdaq: GGR) in the private investment in public equity (PIPE) by Castrol Holdings International Limited (“Castrol”).~~On June 24, 2024, Gogoro and Castrol signed a subscription agreement, pursuant to which Gogoro issued 16,887,328 ordinary shares to Castrol for an aggregate purchase price of US$25 million. Concurrently with the share issuance, Gogoro granted Castrol certain put option, information and registration rights. The subscription agreement also contemplates that upon the consummation of certain strategic partnership between Gogoro and Castrol, the parties will enter into a note purchase agreement pursuant to which Gogoro will issue to Castrol a convertible note in the principal amount of US$25 million.~~Gogoro is a global technology leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery charging and availability. Castrol is a global leader in lubricants and part of the bp group.~~The Simpson Thacher team includes Yi Gao, Yang Wang, Shuting Lu and Haixuan Yang (M&A); and Keng-Wen Lin (Capital Markets).

Jan 7

1 min

The Firm recently represented Gogoro Inc. (“Gogoro,” Nasdaq: GGR) in the US$50 million private investment in public equity (“PIPE”) by Gold Sino Assets Limited (“Gold Sino”). In addition to 32,516,095 ordinary shares of Gogoro issued to Gold Sino at closing of the transaction, Gold Sino also acquired a warrant to purchase 10,838,698 additional ordinary shares of Gogoro. The transaction was closed on June 7, 2024 and the proceeds of the transaction will be used to continue Gogoro's growth and development in Taiwan and international expansion markets.~~Headquartered in Taiwan, Gogoro is an innovative company focusing on utilizing cutting-edge technologies to transform urban transportation and enable the mass market shift to clean sustainable two-wheel transportation. Gogoro battery swapping provides smart, convenient and accessible portable power using industry-leading battery swapping and Smartscooter vehicles that address the needs of urban residents in Asia and other regions with densely populated cities.~~The Simpson Thacher team includes Yi Gao, Yang Wang, Shuting Lu, Keng-Wen Lin and Haixuan Yang (Corporate).

Jun 13

1 min

The Firm is representing XPENG Inc. (“XPENG,” NYSE: XPEV and HKEX: 9868.HK) in its announced strategic minority investment by the Volkswagen Group, pursuant to which the Volkswagen Group will acquire an approximately 4.99% minority stake of XPENG for a total consideration of approximately US$700 million, subject to customary closing conditions. XPENG and Volkswagen Group also entered into a strategic technical collaboration, in connection with which XPENG and the Volkswagen Group will jointly develop two B-class battery electric vehicles models.~~XPENG is a leading Chinese Smart EV company that designs, develops, manufactures and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. The Volkswagen Group is one of the world’s leading automobile manufacturers.~~The Simpson Thacher team includes Yang Wang, Amy Liu and Boli Chen (M&A); Yi Gao (Capital Markets); Jennifer Nadborny (Public Company Advisory Practice); David Yun (HK Corporate); Lori E. Lesser and Kate Mirino (IP); and Ross Ferguson (Antitrust).

Jul 28

1 min

Simpson Thacher represented the underwriters in connection with the initial public offering and listing on The Nasdaq Stock Market of YXT.COM Group Holding Limited (“YXT”). YXT’s ADSs are traded on The Nasdaq Stock Market under the symbol “YXT.” Kingswood Capital Partners, LLC and Tiger Brokers (NZ) Limited acted as the underwriters.~~YXT is a leader and disruptor of the digital corporate learning industry in China. According to Frost & Sullivan, YXT is the largest digital corporate learning solution provider in China in terms of total revenue, subscription revenue and number of subscription customers in 2023. YXT is also among the first with VIE structure to obtain approval from China Securities Regulatory Commission for its overseas listing and successfully completed its IPO in the U.S.~~The Simpson Thacher team for the transaction included Yi Gao, Chenjing Shen and June Hu (Capital Markets); Michael E. Mann, Preston Irace and Jiha Min (Tax); George Wang, Bryan Jin, Daniel Levien, Shuhao Fan and Wendy Wu (Regulatory); and Jennie Getsin (FINRA and Blue Sky).

May 9

1 min

Simpson Thacher Partners Christopher Wong and Yi Gao have been named to China Business Law Journal’s 2023-24 “A-List,” recognizing elite lawyers practicing in China. Christopher Wong was named among the publication’s “Visionaries,” seasoned lawyers who “have the strategic thinking and business acumen to present solutions that strike a harmonious balance between legal compliance and commercial viability.” Yi Gao was named among CBLJ’s “Growth Drivers,” lawyers “at the forefront of the market, boasting outstanding reputations and robust revenue-generating capabilities.”~~To view the full list of “Visionaries” report and see the full list of honorees, please click here. To view the full list of “Growth Drivers” and see the full list of honorees, please click here.

Mar 26

1 min