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").
Pursuant 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.
The 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.
The 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.
This 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 jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
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.