New York, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Chijet Motor Company, Inc. (NASDAQ: CJET) (“Chijet” or the “Company”) today announced that it has entered into securities purchase agreements with certain non-U.S. institutional investors for a private placement offering of units consisting of ordinary shares and warrants for gross proceeds of up to $20.0 million. Each unit consists of one ordinary share (par value $0.003) at an offering price of $0.15 per share and three warrants, with each warrant exercisable t ...

Core Insights - Chijet Motor Company has appointed Jason Miller as Chief Operating Officer to lead the company's transition into the digital currency era, integrating major cryptocurrencies into its balance sheet [1][3] - The company aims to enhance financial resilience and optimize asset allocation while participating in the decentralized finance ecosystem, aligning with the growing institutional adoption of digital assets [1][2] Company Strategy - Chijet plans to establish a robust presence in digital asset custody and wallet solutions, capitalizing on institutional uptake and evolving regulatory frameworks [3] - The company has outlined a clear execution roadmap for its Digital Currency Treasury Strategy, which includes initial acquisitions of Bitcoin and Ethereum, launching a comprehensive treasury management framework, and exploring DeFi protocols [6] Leadership Background - Jason Miller brings over two decades of experience in blockchain and emerging technologies, with a history of scaling Web3 organizations and fostering innovation [2] - His expertise will be crucial for Chijet's integration into digital asset treasury management, focusing on secure custody, yield optimization, and risk mitigation [2]

Core Viewpoint - Chijet Motor Company, Inc. is facing delisting from Nasdaq due to non-compliance with market value requirements, specifically failing to maintain a minimum market value of $50 million for its listed securities and $15 million for publicly held shares [1][2] Group 1: Delisting Notification - On February 13, 2025, Chijet received a determination letter from Nasdaq regarding its delisting due to failure to meet market value requirements [1] - Trading of Chijet's Common Stock will be suspended on February 25, 2025, unless an appeal is filed [2] Group 2: Appeal Process - The company plans to appeal the delisting decision to a Hearings Panel, which will allow its Common Stock to continue trading while awaiting the Panel's decision [3] - Chijet intends to present a compliance plan during the hearing and request additional time to meet Nasdaq's listing requirements [3] Group 3: Company Overview - Chijet is engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEVs) [4] - The company has a modern vehicle production base in Jilin, China, and is constructing a factory in Yantai dedicated to NEV production [4] - Chijet's management team consists of industry veterans with extensive experience in various fields including engineering, design, and financial management [4]