Business
Jiuzi Holdings Inc. Announces Pricing of $2.3 Million Registered Direct Offering
HANGZHOU, China, July 17, 2023 (GLOBE NEWSWIRE) -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV) dealership group
About this update from Jiuzi Holdings, Inc.
[{"type":"text","content":"HANGZHOU, China, July 17, 2023 (GLOBE NEWSWIRE) -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the \"Company\"), a leading new energy vehicle (NEV) dealership group operating under the brand name \"Jiuzi\" in China, today announced that it entered into a securities purchase agreement with certain institutional investors to purchase $2.3 million worth of its ordinary shares in a registered direct offering. Under the terms of the securities purchase agreement, the Company has agreed to sell an aggregate of $2.3 million ordinary shares and/or pre-funded warrants in a registered direct offering. The purchase price per ordinary share is $1.65 and the purchase price for the pre-funded warrants is identical to the purchase price for ordinary shares, less the exercise price of $0.01 per share. The gross proceeds to the Company from the registered direct offering are estimated to be approximately $2.3 million, before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about July 19, 2023, subject to the satisfaction of customary closing conditions. Spartan Capital Securities LLC, is acting as exclusive placement agent for the offering. The proposed offering of the ordinary shares and pre-funded warrants described above is being offered by the Company pursuant to a \"shelf\" registration statement on Form F-3 (File No. 333- 267617) filed with the Securities and Exchange Commission (\"SEC\") and declared effective by the SEC on December 14, 2022, and the accompanying prospectus contained therein. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006 or telephone at (877) 772-7818. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sal...