InvestmentJun 25, 2026, 06:07 AM
Autozi Secures Up to $5.25M in Convertible Note Financing
AI Summary
Autozi Internet Technology (Global) Ltd. has entered into a Securities Purchase Agreement to secure up to $5.25 million in advance promissory note financing from an accredited investor. The company initially issued a $2.75 million note, with an option for an additional $2.5 million, convertible into Class A ordinary shares. These notes bear 9.25% annual interest and were issued at a 4.0% original issue discount. The capital raised will enhance financial flexibility and support strategic growth initiatives, including M&A, global expansion, and increased R&D investment for digital platforms.
Key Highlights
- Secured up to $5.25 million in advance promissory note financing from an accredited investor.
- Initially issued a $2.75 million note, with an option for an additional $2.5 million.
- Notes are convertible into Class A ordinary shares of the Company.
- Initial note issued at a 4.0% original issue discount and bears 9.25% annual interest.
- Proceeds will fund targeted mergers and acquisitions within China's auto parts supply chain.
- Capital will be used to build a cross-border supply chain platform for global expansion.
- Funds will increase R&D investment to advance digital and intelligent platforms.
- Conversion price is subject to adjustment, including a reset to 93% of the lowest 10-day VWAP.
Price Impact
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