EZGO - EZGO Technologies acquires land and factory buildings for $10.2M

EZGO Technologies ([[EZGO]] +0.4%) agreed to acquire land and factory buildings owned by Tianjin Jiahao Bicycle for a total purchase price of ~$10.2M.Transaction is expected to close by June 15.Post closure, Jiangsu Baozhe Electric Technology, the domestic operation company of EZGO, will have 35K+ sq. meters of factory land, including two factory buildings and an administration building, and a construction area.The estimated production capacity of the existing factory buildings purchased in this transaction is 100K of two-wheeled e-bicycles and of factory building expected to be built on the remaining land being purchased is 500K units of two-wheeled e-bicycles.EZGO's current production capacity at its earlier leased factory in Nancai Town of Tianjin was ~300K e-bicycles, with actual capacity of 150K e-bicycles due to limited turnover space.

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EZGO Technologies acquires land and factory buildings for $10.2M