JZXN - Jiuzi Holdings stock plummets on $2.3M registered direct offering

2023-07-17 08:52:17 ET

• Jiuzi Holdings ( NASDAQ: JZXN ) has announced that it entered into a securities purchase agreement with certain institutional investors to purchase $2.3M worth of its ordinary shares in a registered direct offering.
• Under the terms, the Co. has agreed to sell an aggregate of $2.3< ordinary shares and/or pre-funded warrants in a registered direct offering.
• The purchase price per ordinary share is $1.65 and the purchase price for the pre-funded warrants is identical to the purchase price for ordinary shares, less the exercise price of $0.01/share.
• The gross proceeds are estimated to be ~$2.3M and the offering is expected to close on or about July 19, 2023.
• JZXN -50% premarket to $1.65.

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