JZXN - Jiuzi falls 6% amid plans to sell ordinary shares warrants

Jiuzi Holdings ([[JZXN]] -5.8%) stock slumped while the company announced to sell ordinary shares and warrants to raise about $36.8M in net proceeds.The company filed a registration statement offering 7,812,500 ordinary shares and warrants to buy 7,812,500 ordinary shares, or warrants, at an assumed price of $5.12 per share and warrant.Each warrant will be immediately exercisable for one ordinary share for a price not less than 100% of the offering price of per share and warrant in the offering.The company granted the underwriters a 45-day option to buy up to an additional 1,171,875 ordinary shares at $5.11 per ordinary share and/or up to an additional 1,171,875 warrants at a price of $0.01 per warrant.Jiuzi estimates net proceeds of about $36.8M, or about$41.4M if the underwriters exercise their option to purchase additional ordinary shares in full, based on an assumed price of US$5.12 per share.The company plans to use the net

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Jiuzi falls 6% amid plans to sell ordinary shares, warrants