Chijet Motor announces $20 million private placement with warrants

Chijet Motor Company Inc. (NASDAQ: CJET) entered into securities purchase agreements with non-U.S. institutional investors for a private placement offering that could raise up to $20 million in gross proceeds.

The offering consists of units priced at $0.15 per ordinary share, with each unit including one share and three warrants. Each warrant allows the purchase of one ordinary share at $0.18 per share and remains exercisable for three years from issuance. The warrants may be exercised on a cashless basis under certain circumstances.

The company structured the offering under exemptions from Securities Act registration requirements, including Section 4(a)(2) and Regulation S. Cooley SG LLP served as U.S. counsel, with Harney Westwood & Riegels as Cayman Islands counsel and Beijing Docvit Law Firm as PRC counsel.

Chijet develops, manufactures and services traditional fuel vehicles and new energy vehicles. The company operates a production facility in Jilin, China, and plans to complete construction of a factory in Yantai, China, dedicated to new energy vehicle production.

The information is based on a company press release.

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