Business
EZGO Announces Pricing of $9.6 Million Registered Direct Offering
CHANGZHOU, China, Sept. 12, 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, Sept. 12, 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 agreement with certain institutional investors for the purchase and sale of 8,498,125 ordinary shares, along with associated warrants (as further described herein) at a combined purchase price of $1.13 per ordinary share and associated warrants. Each one ordinary share will be sold together with one common warrant exercisable for one ordinary share at an exercise price of $1.13 per ordinary share and four exchange warrants each exercisable for one ordinary share at an exercise price of $1.13 per ordinary share. The common warrants and exchange warrants will each have a three year term. In addition to the customary cashless exercise rights provided in both the common warrants and the exchange warrants, the exchange warrants will also provide an alternate right to exercise on a cashless exercise basis and receive the total number of ordinary shares which the holder would have received if exercised, in full, for cash.\n\nThe aggregate gross proceeds to the Company are expected to be approximately $9.6 million, in consideration for which the Company will issue a total of 8,498,125 ordinary shares, common warrants to purchase up to 8,498,125 ordinary shares and exchange warrants to purchase up to 33,992,500 ordinary shares. The transaction is expected to close on or about September 13, 2023, subject to satisfaction of customary closing conditions.\nAegis Capital Corp. is acting as the Exclusive Placement Agent.\nThe registered direct offering is being made pursuant to an effective shelf registration statement on Form F-3 (No. 333-263315) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on November 30, 2022. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, Ne...