Chijet Motor Company Announces Closing of $20.0 Million Private Placement

Core Points - Chijet Motor Company, Inc. has successfully closed a private placement offering, raising gross proceeds of $20.0 million [1][2] - The offering involved units consisting of one ordinary share priced at $0.15 and three warrants, each exercisable at $0.18 [2] - The warrants are valid for three years and can be exercised on a cashless basis under certain conditions [2] Company Overview - Chijet specializes in 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]