ECARX Holdings Inc. announced it has entered into a securities purchase agreement with an institutional investor for the issuance and sale of convertible notes with an aggregate principal amount of up to $150 million. The first tranche, valued at $50 million, is expected to be issued on or about October 30, 2025. Additional closings of up to $100 million in aggregate principal amount of notes may occur upon the company's filing of further prospectus supplements and satisfaction of certain conditions. The notes will be convertible into Class A ordinary shares and will rank pari passu with all existing and future unsubordinated and unsecured obligations of the company. The offering includes customary covenants and requires ECARX Holdings to maintain a minimum cash balance of $25 million at the end of each fiscal quarter. Specific details such as price, maturity date, and interest rate were not disclosed in the document.