Chijet Motor Company, Inc. Announces $15 Million Registered Direct Offering

Core Viewpoint - Chijet Motor Company, Inc. has entered into a definitive agreement for a registered direct offering of 100 million Class A ordinary shares at a price of $0.15 per share, aiming to raise approximately $15 million in gross proceeds [1][2]. Group 1: Offering Details - The offering consists of 100,000,000 shares or pre-funded warrants at a purchase price of $0.15 per share, with the pre-funded warrants having an exercise price of $0.003 per share [1]. - The transaction is expected to close on or about October 2, 2025, pending customary closing conditions [2]. - The offering is made under a shelf registration statement previously filed and declared effective by the SEC [3]. Group 2: Company Overview - Chijet Motor Company focuses on the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEVs) [5]. - The company operates a large modern vehicle production base in Jilin, China, and is constructing a factory in Yantai, China, dedicated to NEV production [5]. - Chijet's management team comprises industry veterans with extensive experience in various fields including engineering, design, and financial management [5].