Jiuzi Holdings prices $2.3M registered direct offering

Jiuzi Holdings entered into a securities purchase agreement with certain institutional investors to purchase $2.3M worth of its ordinary shares in a registered direct offering. Under the terms of the securities purchase agreement, the Company has agreed to sell an aggregate of $2.3M ordinary shares and/or pre-funded warrants in a registered direct offering. The purchase price per ordinary share is $1.65 and the purchase price for the pre-funded warrants is identical to the purchase price for ordinary shares, less the exercise price of $0.01 per share. The gross proceeds to the Company from the registered direct offering are estimated to be approximately $2.3M, before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about July 19, 2023, subject to the satisfaction of customary closing conditions. Spartan Capital Securities LLC, is acting as exclusive placement agent for the offering.