CHANGZHOU, China, Sept. 13,
2023 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq:
EZGO) ("EZGO" or the "Company"), a leading short-distance
transportation solutions provider in China, today announced the closing of its
previously announced registered direct offering 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 was 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 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 also provide an alternate right to
exercise on a cashless exercise basis to receive the total number
of ordinary shares which the holder would have received if
exercised, in full, for cash.
The aggregate gross proceeds to the Company were approximately
$9.6 million, in consideration for
which the Company issued 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.
Aegis Capital Corp. acted as the Exclusive Placement
Agent.
The registered direct offering was 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 offering
has been filed with the SEC and is 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 by contacting Aegis Capital Corp., Attention: Syndicate
Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at
syndicate@aegiscap.com, or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About EZGO Technologies Ltd.
Leveraging an Internet of Things (IoT) product and service
platform and three e-bicycle brands, "EZGO" and "Cenbird", EZGO has
established a business model centered on the manufacturing and sale
of two-and three-wheeled electric vehicles, lithium batteries,
complemented by the e-bicycle charging pile business. For
additional information, please visit EZGO's website at
www.ezgotech.com.cn. Investors can visit the "Investor Relations"
section of EZGO's website at www.ezgotech.com.cn/Investor.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate," or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the growth of the
short-distance transportation solutions market in China and the other international markets the
Company plans to serve; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and the international markets the
Company plans to serve and assumptions underlying or related to any
of the foregoing and other risks contained in reports filed by the
Company with the SEC, including the Company's most recently filed
Annual Report on Form 20-F and its subsequent filings. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
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SOURCE EZGO Technologies Ltd.