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Chijet Motor Company, Inc. Reports $2.82M Private Placement in Form 6-K Filing

$CJET
Form 6-K
Filed on: 2025-01-10
Source
Chijet Motor Company, Inc. Reports $2.82M Private Placement in Form 6-K Filing

Here are the key insights extracted from the financial report of Chijet Motor Company, Inc., as presented in the Form 6-K:

  1. Nature of Filing: This document is a Form 6-K, which is used by foreign private issuers to report certain events and is filed with the SEC.
  2. Date of Agreement: The securities purchase agreement was entered into on January 5, 2025.
  3. Private Placement Details:
  • Offering: The company is conducting a private placement offering involving 1,678,572 ordinary shares at a price of $1.68 per share.
  • Warrants: Investors will also receive warrants allowing them to purchase up to 5,035,716 additional ordinary shares at an exercise price of $1.00 per share.
  • Exercise Period: The warrants can be exercised starting from January 7, 2025, for a duration of three years.
  1. Financial Impact: The gross proceeds from the private placement are expected to be approximately $2.82 million before deducting expenses.
  2. Regulatory Exemption: The offering is exempt from registration under Regulation S of the Securities Act of 1933, meaning it is limited to non-U.S. persons who are not acquiring the shares and warrants for resale in the United States.
  3. Representations by Investors: Investors in the private placement have represented that they are "non-U.S. persons" and are not acquiring shares for resale, which supports the exemption from registration.
  4. Documentation: The report indicates that the specific terms of the securities purchase agreement and the warrants are detailed in separate exhibits (Exhibit 4.1 and Exhibit 10.1).
  5. Company Information:
  • Name: Chijet Motor Company, Inc.
  • Address: No. 8, Beijing South Road Economic & Technological Development Zone, Yantai, Shandong, People's Republic of China.
  • Commission File Number: 001-41712.
  1. Signature: The filing is signed by Dongchun Fan, the Chief Financial Officer, dated January 10, 2025.

These points summarize the critical financial and regulatory aspects of the private placement as reported by Chijet Motor Company, Inc.