CHIJET MOTOR COMPANY, INC. ANNOUNCES PRICING OF $8.0 MILLION PUBLIC OFFERING

Company Overview - Chijet Motor Company, Inc. is engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEV) [6] - The company has a large modern vehicle production base in Jilin, China, and is constructing a factory in Yantai, China dedicated to NEV production [6] - Chijet's management team consists of industry veterans with extensive experience in various fields including engineering, design, management, and financial management [6] Public Offering Details - Chijet announced a public offering of 13,560,000 shares of its Class A ordinary shares and warrants to purchase an equal number of shares at a combined price of $0.59 per share [1] - Each warrant will expire in five years, is immediately exercisable at an initial price of $0.59 per share, and can be exchanged for two Class A ordinary shares under a zero cash exercise option [2] - The net proceeds from the offering will be used for business acquisitions, corporate management, talent recruitment, and general working capital [3] Regulatory Information - A shelf registration statement for the ordinary shares was filed with the SEC on August 6, 2024, and was declared effective on August 16, 2024 [4] - The offering is being conducted through a written prospectus and prospectus supplement, which are available on the SEC's website [4]