Autozi Converts $7M Debt to Equity, Issues 10M Shares to CEO

Autozi Internet Technology (Global) Ltd. has entered into a Debt Conversion Agreement with its Chief Executive Officer and Chairman, Houqi Zhang. Under the agreement, the company will issue 10,000,000 Class B ordinary shares to Mr. Zhang. This share issuance will fully settle an interest-free loan of $7,000,000 previously provided by the CEO to the company, and the shares will be subject to a three-year lock-up period.