Jiuzi Holdings announces $30M private placement

Jiuzi Holdings (JZXN) announced that it has entered into securities purchase agreements with certain non-U.S. institutional investors for a private placement offering to raise gross proceeds of up to $30M through the issuance of units. The net proceeds raised will primarily be used to purchase cryptocurrencies. Each unit comprises one share of common stock having a par value of $0.00039 per share (issued at a price of $0.42 per share) and three warrants. Each warrant is exercisable within three years from the date of issuance at an exercise price of $0.50 per share for one share of common stock. Under specific circumstances, these warrants may be exercised on a cashless basis.