Business
EZGO Announces $8.5 Million Registered Direct Offering
CHANGZHOU, China, June 6, 2023 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or the "Company"), a leading short-distance transportation
About this update from Ezgo Technologies Ltd.
[{"type":"text","content":"CHANGZHOU, China, June 6, 2023 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) (\"EZGO\" or the \"Company\"), a leading short-distance transportation solutions provider in China, today announced that it has entered into a definitive securities purchase agreement, dated as of June 5, 2023 (the \"Purchase Agreement\") with certain purchasers, each an unrelated third party to the Company (collectively, the \"Purchasers\").\nPursuant to the Purchase Agreement, the Purchasers agreed to subscribe for and purchase, and the Company agreed to issue and sell to the Purchasers, an aggregate of 10,000,000 units (\"Units\") at $0.85 per Unit and for an aggregate purchase price of US$8,500,000 in a registered direct offering (the \"Offering\"). Each Unit consists of one ordinary share, par value US$0.001 per share (\"Ordinary Share\"), and one warrant (\"Warrant\") to purchase one Ordinary Share at a price of $1.20 per share, subject to adjustment as provided therein. The Warrants will become exercisable for cash or on a cashless basis upon issuance and will expire one year after the issuance date.\nThe Units were offered by means of the Company's registration statement on Form F-3 (File No. 333-263315), which was declared effective by the U.S. Securities and Exchange Commission (the \"SEC\") on November 30, 2022, the accompanying prospectus, dated November 30, 2022, and a prospectus supplement, which the Company expects to file with the SEC on June 6, 2023. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov and may also be obtained by contacting Shawn Wen, at the Company, using his contact information at the end of this press release.\nThe Company expects to receive net proceeds of approximately US$8,470,000 from the issuance and sale of the Units, after payment of offering expenses, including legal fees, and expects the settlement thereof to occur in accordance with the terms of the Purchase Agreement, on or around June 15, 2023. The Company intends to use the net proceeds for working capital and general business purposes.\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these Company securities, nor shall there be any sale of these Company securities in any state or other jurisdictio...