Law360 (April 15, 2021, 7:06 PM EDT) — Luckin Coffee, guided by Davis Polk & Wardwell LLP and Harney Westwood & Riegels, said Thursday that it will receive $250 million from two Chinese private equity firms to fund the Chinese coffee chain’s restructuring plans and settlement of allegations that it defrauded investors.
Luckin Coffee Inc. said in a news release that it would receive $240 million from Centurium Capital and $10 million from Joy Capital in exchange for senior preferred shares in the company. The beverage company could also receive up to an additional $150 million from its two current shareholders under certain circumstances.
“The Transactions allow the Company…
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