SHENZHEN, China, March 10, 2021 /PRNewswire/ -- MingZhu
Logistics Holdings Limited (Nasdaq: YGMZ) (the "Company"), a
China-based trucking services
provider, today announced that it entered into securities purchase
agreements with certain institutional investors in connection with
a registered direct offering of an aggregate of 3,333,335 units of
its securities (each, a "Unit"), with each Unit consisting of (i)
one ordinary share of the Company, par value $0.001 per share, and (ii) one warrant to
purchase 0.75 ordinary share (together, the "Warrants"), for
aggregate gross proceeds of $20
million, before deducting the placement agent's fees and
other estimated offering expenses. The Warrants will be
exercisable six months after the date of issuance (the "Initial
Exercise Date") at an exercise price of $6.60 per share, subject to adjustments, and will
expire three years after the Initial Exercise Date. The offering is
expected to close on or about March 12,
2021, subject to the satisfaction of customary closing
conditions.
FT Global Capital, Inc. is acting as the exclusive placement
agent in connection with the offering.
The Company currently intends to use the net proceeds of the
offering for working capital and general corporate purposes.
The Company's securities described above are being offered
pursuant to an effective registration statement on Form F-1 (SEC
File No. 333-253950), that was previously filed with the Securities
and Exchange Commission ("SEC") on March 5,
2021, subsequently amended and declared effective on
March 9, 2021, and by means of a
prospectus a copy of which has been filed with the SEC and is
available on the SEC's website at www.sec.gov. The offering is
being made only by means of such prospectus.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
For further details of this transaction, please see the
Company's 6-K to be filed with the SEC.
About MingZhu Logistics Holdings Limited
Founded in 2002 and Headquartered in Shenzhen, China, MingZhu is 4A-grade trucking
services provider, offering both network density and broad
geographic coverage to meet customers' diverse transportation
needs. The Company operates two regional terminals in Guangdong Province and Xinjiang Autonomous
Region, respectively, with a mix of self-own fleets of tractors and
trailers and subcontractors' fleets. More information about MingZhu
can be found at: www.szygmz.com/en/.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements also are subject to risks,
uncertainties and assumptions, including those detailed from time
to time in the Company's filings with the SEC, and represent the
Company's views only as of the date they are made and should not be
relied upon as representing the Company's views as of any
subsequent date. The Company undertakes no obligation to publicly
revise any forward-looking statements to reflect changes in events
or circumstances.
For more information, please contact:
At the Company:
Dennis Tan
Email: company@szygmz.com
Phone: +86 150 1854 1833
Investor Relations:
Sherry
Zheng
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718 213 7386
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SOURCE MingZhu Logistics Holdings Limited