Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 96

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 5
Chunk 96
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On June 24, 2024, we entered into a subscription agreement (the “ Subscription Agreement”) with Castrol Holdings, a private limited company incorporated in England and Wales (“ Castrol Holdings,” and together with Gogoro, the “ Parties”), pursuant to which we issued and sold to Castrol Holdings 16,887,328 Gogoro Ordinary Shares (the “ Castrol Subscribed Shares”) for an aggregate purchase price of US$25 million, reflecting a per share purchase price of approximately US$1.4804 (the “ Per Share Purchase Price”). The Subscription Agreement also contemplated that, upon the consummation (the “ Strategic Partnership Closing”) of the transactions contemplated by the definitive agreements mutually agreed between the parties in respect of a contemplated electric two-wheeler joint venture between Gogoro and Castrol Holdings (the “ JV” or the “ Strategic Partnership”), Gogoro and Castrol Holdings will enter into a convertible note purchase agreement (the “ Note Purchase Agreement”), pursuant to which Gogoro will issue and sell to Castrol Holdings, and Castrol Holdings will purchase from Gogoro, a convertible note in the principal amount of US$25 million (the “ Convertible Note”). Concurrently with the execution of the Subscription Agreement, Gogoro also entered into a letter agreement (the “ Original Letter Agreement”) and a registration rights agreement (the “ Original Registration Rights Agreement”), in each case with Castrol Holdings.

On February 17, 2025, Gogoro and Castrol Holdings agreed to set up a joint venture company (the “ JV” or the “ Strategic Partnership”) in Vietnam by entering into a joint venture agreement (the “ JV Agreement”) between both parties’ subsidiaries. The JV will operate a business of distribution of certain models of electric two-wheelers and provision of battery swapping services based on Gogoro’s battery swapping technology in Vietnam. Pursuant to the JV Agreement, each of Gogoro and Castrol Holdings is required, subject to the conditions set forth in the JV Agreement, to contribute (i) Vietnamese dongs equivalent to US$1 million to the Strategic Partnership within 90 days from the incorporation date of the Strategic Partnership and no later than June 30, 2025, and (ii) a closing funding amount of Vietnamese dongs as agreed by the Parties based on the actual capital demands of the Strategic Partnership but no more than an amount equivalent to US$4 million on the closing date. Upon request of the JV and subject to the conditions set forth in the