Chijet Motor announces $15M registered direct offering

Chijet Motor (CJET) Company announced that it has entered into a definitive agreement with certain investors for the purchase and sale of an aggregate of 100M of the company’s Class A ordinary shares at a purchase price of 15c per share in a registered direct offering. The aggregate gross proceeds to the company of this offering are expected to be approximately $15M. The transaction is expected to close on or about October 2, subject to the satisfaction of customary closing conditions. Univest Securities is acting as the sole placement agent.