Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Convertible Debenture

On October 25, 2021 Ideanomics entered into a convertible debenture with the YA II PN, Ltd (“YA,”) with a principal amount of $75.0 million. The note has a fixed conversion price of $1.88. The conversion price is not subject to adjustment except for subdivisions or combinations of common stock. The principal and the interest payable under the note will mature on October 24, 2022, unless earlier converted or redeemed by the Company. At any time before the maturity date, YA may convert the note at its option into up to 39.9 million shares (excluding additional shares issuable upon accrued interest) of the Company’s common stock at a fixed conversion price of $1.88. The note contains customary events of default, indemnification obligations of the Company and other obligations and rights of the parties.