Loan & DebtJun 24, 2026, 04:07 PM
Autozi Secures Up to $5.25M in Financing via Promissory Notes
AI Summary
Autozi Internet Technology (Global) Ltd. announced it entered into a definitive Securities Purchase Agreement with an institutional investor, securing up to $5.25 million in gross proceeds. The transaction, which closed on June 23, 2026, involves the issuance of an advance promissory note, with an option for an additional $2.5 million. The notes are convertible into the Company's Ordinary Shares. Autozi plans to use the capital to fund strategic growth initiatives, including targeted mergers and acquisitions, building a cross-border supply chain platform, and increasing investment in R&D.
Key Highlights
- Autozi entered a Securities Purchase Agreement with an institutional investor on June 22, 2026.
- The agreement involves issuing an advance promissory note (Initial Note).
- Transaction will result in gross proceeds to the Company of up to $5.25 million.
- Buyer has an option to cause the Company to issue an additional $2.5 million in notes.
- Notes are convertible into the Company’s Ordinary Shares.
- Proceeds will enhance financial flexibility for strategic growth initiatives.
- Funds will be used for targeted M&A, building a cross-border supply chain, and R&D investment.
- Company entered a registration rights agreement to file with the SEC for resale of shares.
Price Impact
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