Core Viewpoint - Autozi Internet Technology (Global) Ltd. has entered into a Securities Purchase Agreement to issue senior unsecured convertible notes and warrants, raising gross proceeds of $27.5 million to support strategic growth initiatives and operational capacity expansion [1][2]. Group 1: Financial Details - The transaction includes the issuance of an Initial Note and Warrants, with the Initial Note providing $27.5 million in gross proceeds [1]. - An additional Note of $500,000 will be issued upon the effectiveness of the registration statement for the Class A ordinary shares [2]. - The Warrants allow for the purchase of additional Notes totaling up to $24 million every 90 days following the Closing Date [2]. Group 2: Strategic Initiatives - The capital raised will be allocated towards three strategic priorities: pursuing targeted mergers and acquisitions in China's auto parts supply chain, building a cross-border supply chain platform for global expansion, and increasing investment in R&D for digital and intelligent platforms [2]. - These initiatives aim to enhance Autozi's competitive edge, operational efficiency, and technological leadership in the automotive services sector [2]. Group 3: Company Overview - Autozi is a leading provider of lifecycle automotive services in China, founded in 2010, offering a range of automotive products and services through online and offline channels [5]. - The company leverages an advanced online supply chain cloud platform and SaaS solutions to create a dynamic ecosystem that enhances collaboration across the automotive industry [5].
Autozi Internet Technology (Global) Ltd. Announces the Execution of Securities Purchase Agreement