WILMINGTON, Del., Aug. 21,
2024 /PRNewswire/ -- Thunder Power Holdings, Inc.
(Nasdaq: AIEV) ("Thunder Power" or the "Company"), a
technology innovator and a developer of premium passenger EVs,
today announced that it has entered into a Common Stock Purchase
Agreement (the "Purchase Agreement") for a $100.0 million committed equity facility (the
"Facility").
Transaction Overview
Pursuant to the Purchase Agreement, the Company, in its sole
discretion, will have the right, but not the obligation, to issue
and sell up to $100.0 million in
newly issued shares of the Company's common stock (the "Shares")
over a 36-month period subject to certain conditions, including
that a registration statement covering the resale of the Shares is
filed and declared effective by the Securities and Exchange
Commission ("SEC"). The Company is not required to utilize the
Facility, and controls the timing and amount of any drawdown on the
Facility, subject to certain restrictions under the Facility. The
Company intends to use the net proceeds from the Facility, if any,
for working capital and general corporate purposes.
This press release is for informational purposes only and is
not, and shall not constitute, an offer to sell or the solicitation
of an offer to sell or the solicitation of an offer to buy any
securities. The Shares issuable under the Facility have not been
registered under the securities laws of the United States of America and may not be
offered or sold except pursuant to an effective registration
statement under the Securities Act of 1933, as amended (the
"Securities Act"), or pursuant to an available exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and in accordance with applicable state
securities laws. The Company plans to file with the SEC a
registration statement relating to the Shares issuable under the
Facility. The Company cannot draw on the Facility, and the Shares
may not be sold nor may offers to buy be accepted, prior to the
time that the registration statement covering the Shares is
declared effective.
About Thunder Power Holdings, Inc.
Thunder Power is a technology innovator and a developer of premium
electric vehicles ("EVs"). The Company has developed several
proprietary technologies, which are the building blocks of the
Thunder Power family of EVs. The Company is focused on design and
development of high-performance EVs, targeting the EV markets in
the U.S., Europe and Asia.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended ("Exchange Act"),
including statements regarding the Company management team's
expectations, hopes, beliefs, intentions, plans, prospects or
strategies regarding the future, including the anticipated use of
proceeds from the Facility. Any statements contained herein that
are not statements of historical fact may be deemed to be
forward-looking statements. Additionally, any statements that refer
to projections, forecasts or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. The words "may," "will," "could,"
"would," "should," "expect," "intend," "plan," "anticipate,"
"believe," "estimate," "predict," "project," "potential,"
"continue," "ongoing," "target," "seek" or the negative or plural
of these words, or other similar expressions that are predictions
or indicate future events or prospects, may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements contained in this press release are based on the current
expectations and beliefs of the Company's management, in light of
their respective experience and their perception of historical
trends, current conditions and expected future developments and
their potential effect on the Company, as well as other factors
they believe are appropriate under the circumstances. There can be
no assurance that future developments affecting the Company will be
those that it has anticipated. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
the control of the Company or its management) or other assumptions
that may cause actual results or performance to be materially
different from those expressed or implied by these forward-looking
statements, including regulatory oversight, product and service
acceptance, and that the Company will have sufficient capital to
operate as anticipated. Should one or more of these risks of
uncertainties materialize, or should any of the management's
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
Additional factors that could cause actual results to differ are
discussed under the heading "Risk Factors" and in other sections of
the filings of Thunder Power Holdings, Inc. (f/k/a "Feutune Light
Acquisition Corporation") with the Securities and Exchange
Commission ("SEC"), and in the current and periodic reports filed
or furnished by the Company from time to time with the SEC. All
forward-looking statements in this press release are made as of the
date hereof, based on the information available to Thunder Power
Holdings, Inc. and its management team as of the date hereof, and
the Company assumes no obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws.
Investor Relations Contact
Robin Yang
ICR, LLC
ThunderPower.IR@icrinc.com
+1 (646) 880-9057
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SOURCE Thunder Power Holdings, Inc.