Business
Autozi Internet Technology (Global) Ltd. Announces Closing of Initial Public Offering
BEIJING, Aug. 29, 2024 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. ("Autozi" or the "Company") (NasdaqGM: AZI), one of the leading and
About this update from Autozi Internet Technology (global) Ltd.
[{"type":"text","content":"BEIJING, Aug. 29, 2024 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. (\"Autozi\" or the \"Company\") (NasdaqGM: AZI), one of the leading and fast-growing lifecycle automotive service providers in China, today announced the closing of its initial public offering (the \"Offering\") of 2,500,000 Class A ordinary shares at a public offering price of US$4 per Class A ordinary share. The Class A ordinary shares began trading on Nasdaq Capital Market under the ticker symbol \"AZI\" on August 28, 2024.\n\nThe Company received aggregate gross proceeds of US$10 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriter of the Offering an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 375,000 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering was conducted on a firm commitment basis.\nNet proceeds from the Offering will be used for enhancing our supply chain management capabilities, expanding the size and coverage of our MBS stores network, investment in technology innovations, and general corporate purposes.\nKingswood Capital Partners, LLC acted as sole book runner for the Offering. DLA Piper UK LLP served as U.S. counsel to the Company. VCL Law LLP served as U.S. counsel to the underwriter.\nA registration statement on Form F-1 (File No. 333-281215), relating to the Offering was previously filed with the U.S. Securities and Exchange Commission (\"SEC\") by the Company, and was declared effective by the SEC on August 27, 2024. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained from Kingswood Capital Partners, LLC, 126 E 56th St, Suite 22S, or by telephone at +1 732-910-9692.\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities described herein, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawf...