Chijet Motor announces private placement offering up to $20M

Chijet Motor (CJET) Company entered into securities purchase agreements with certain non-U.S. institutional investors for a private placement offering of units consisting of ordinary shares and warrants for gross proceeds of up to $20M Each unit consists of one ordinary share at an offering price of $0.15 per share and three warrants, with each warrant exercisable to purchase one ordinary share at an exercise price of $0.18 per share. The warrants will be exercisable for a period of three years from the date of issuance and may be exercised on a cashless basis under certain circumstances. Cooley SG LLP acted as U.S. special counsel to the Company, with Harney Westwood & Riegels serving as Cayman Islands counsel and Beijing Docvit Law Firm as PRC counsel.