Univest Securities, LLC Announces Closing of $15 Million Registered Direct Offering for its Client Chijet Motor Company, Inc. (NASDAQ: CJET)

Core Viewpoint - Univest Securities has successfully closed a $15 million registered direct offering for Chijet Motor Company, focusing on electric vehicle performance and traditional fuel vehicles [1][3]. Group 1: Offering Details - Chijet Motor Company will sell 100,000,000 Class A ordinary shares at a price of $0.15 per share, with the option for pre-funded warrants [2]. - The gross proceeds from the offering amount to approximately $15 million [3]. - The offering was conducted under a shelf registration statement declared effective by the SEC on August 16, 2024 [4]. Group 2: Company Overview - Chijet Motor Company specializes in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEVs) [7]. - The company operates a large modern vehicle production base in Jilin, China, and is constructing a factory in Yantai, China, dedicated to NEV production [7]. - Chijet's management team consists of industry veterans with extensive experience in various fields including engineering, design, and financial management [7]. Group 3: Univest Securities Overview - Univest Securities, established in 1994, provides a range of financial services including investment banking and advisory [6]. - The firm has raised over $1.5 billion in capital for issuers globally since 2019 and has completed around 100 transactions across various industries [6].