KNDI - Kandi to raise $60M capital via registered direct placement

Kandi Technologies Group ([[KNDI]] -18.1%) inked a securities purchase agreement with certain institutional investors for a registered direct placement of $60M of common stock at a price of $6.38/share.The company will issue warrant for the purchase of up to 3.76M shares at an exercise price of $8.18/share; warrants will have a term of 30 months from the issuance date but are not exercisable for the first six months.Proceeds will be used for general working corporate purposes.Placement completion is expected to occur on or about Nov. 12, 2020.

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Kandi to raise $60M capital via registered direct placement