CHANGZHOU, China, May 27, 2021 /PRNewswire/ -- EZGO Technologies
Ltd. (Nasdaq: EZGO) ("EZGO" or the "Company"), a leading
short-distance transportation solutions provider in China,
today announced that it entered into securities purchase agreements
with certain institutional investors in connection with a
registered direct offering of an aggregate of 2,564,102 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 0.7 ordinary share (the
"Warrants"), for aggregate gross proceeds of $12 million
(which offering was upsized from the previously sized $10 million), before deducting the placement
agent's fees and other estimated offering expenses. The
Warrants will be immediately exercisable after the date of issuance
(the "Initial Exercise Date") at an exercise price of $4.68 per share, subject to adjustments, and will
expire two years after the Initial Exercise Date. The offering is
expected to close on or about June 1, 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 May 20, 2021, subsequently amended and declared effective
on May 26, 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.
About EZGO Technologies Ltd.
Leveraging an Internet of Things (IoT) product and service
platform and two E-bicycle brands, "Cenbird" and "Dilang," EZGO has
established a business model centered on the manufacturing and sale
of E-bicycles and E-bicycle rentals, 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
http://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. 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.