Qiji Auto, a Nasdaq-listed company, completes a US$300 million cryptocurrency private placement

According to Foresight News, Chijet Motor Company, Inc. (stock code: CJET), a Nasdaq-listed company, announced the completion of a private placement financing and raised cryptocurrency funds equivalent to US$300 million. The financing was conducted with a select group of non-U.S. institutional investors, with each unit consisting of one common share (par value $0.003) priced at $0.10 per cryptocurrency share and accompanied by three warrants with an exercise price of $0.12 per cryptocurrency share, with the warrants exercisable for three years from the date of issuance and exercisable on a cashless basis under certain conditions. Proceeds from the financing will be used to advance the company’s secure cryptocurrency custody infrastructure and make strategic acquisitions in the rapidly growing digital asset storage ecosystem.
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