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Autozi Internet Technology: February 2025 Financial Report & Securities Agreement Insights

$AZI
Form 6-K
Filed on: 2025-02-20
Source
Autozi Internet Technology: February 2025 Financial Report & Securities Agreement Insights

Key Information Extracted from the Financial Report (Form 6-K)

  1. Company Information:
  • Name: Autozi Internet Technology (Global) Ltd.
  • Commission File Number: 001-42255
  • Headquarters Address: Building B09, Intelligence Park No. 26, Yongtaizhuang North Road, Haidian District, Beijing, China.
  1. Reporting Period:
  • Date of Report: February 20, 2025
  • Monthly Reference: February 2025
  1. Material Agreement:
  • Type of Agreement: Securities Purchase Agreement
  • Initial Agreement Date: January 27, 2025
  • Investor: An accredited investor (details not specified).
  • Original Principal Amount: Up to $27,500,000 in senior unsecured convertible notes.
  1. Amendments:
  • On February 19, 2025, the company entered into an Amended Purchase Agreement and issued a new Reissued Note worth $3,016,958.33, superseding the previous note of $3,500,000.
  • Issued six Reissued Incremental Warrants, each allowing the purchase of an incremental note valued at $4,000,000.
  1. Financial Details:
  • The total aggregate principal, including accrued interest, of notes under the Amended Purchase Agreement is $27,516,958.33.
  • The Reissued Note includes accrued interest of $16,958.33.
  1. Conversion Price:
  • The initial conversion price for the notes is set at $0.60, based on the closing sale price of the ordinary shares on February 14, 2025.
  1. Regulatory Compliance:
  • The company relied on exemptions from registration under the Securities Act and opted for home country practices in compliance with Cayman Islands regulations, exempting it from Nasdaq Rule 5635(d) regarding shareholder approval for the transactions.
  1. Exhibits:
  • The report includes references to multiple exhibits detailing the agreements and notes issued.

Overall, the report indicates significant financing activities involving convertible notes and warrants, with adjustments made due to administrative delays. The company is actively managing its equity structure and financing avenues to support its operations.