Jiuzi New Energy plans to conduct a registered direct offering of $5.5 million, with 70% of the proceeds used for investing in cryptocurrency assets

ChainCatcher News, Chinese automotive dealer Jiuzhi New Energy (NASDAQ: JZXN) announced that the company has entered into a securities purchase agreement with certain institutional investors to sell 9,220,000 shares of common stock through a registered direct offering.

In a concurrent private placement, the company also agreed to issue and sell unregistered warrants to purchase up to 18,440,000 shares of common stock. Before deducting placement agent fees and other estimated offering expenses, the total proceeds the company expects to receive from the registered direct offering and the concurrent private placement is approximately $5.5 million. The offering is expected to be completed around September 30, 2025, subject to customary closing conditions. The company plans to use approximately 70% of the proceeds from this offering to invest in cryptocurrency assets.