CHANGZHOU, China,
March 9,
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
March 8, 2023 (the "Purchase
Agreement") with ten 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 18,000,000 ordinary shares
of the Company, with a par value of $0.001 per share (the "Shares"), at a purchase
price of US$0.80 per share, and for
an aggregate purchase price of US$14,400,000 in a registered direct offering
(the "Offering").
The Shares 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 March 9,
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$14,300,000 from the issuance and
sale of the Shares, 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
March 15, 2023. The Company intends
to use the net proceeds from the Offering to fund the growth
of its business in China,
primarily working capital, and for general corporate purposes, as
well as to acquire or invest in technologies, products and/or
businesses that Company believes will enhance the value of the
Company.
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", "Dilang" 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.