BEIJING, Aug. 29,
2024 /PRNewswire/ -- Autozi Internet Technology
(Global) Ltd. ("Autozi" or the "Company") (NasdaqGM: AZI), one of
the leading and fast-growing lifecycle automotive service providers
in China, today announced the
closing of its initial public offering (the "Offering") of
2,500,000 Class A ordinary shares at a public offering price of
US$4 per Class A ordinary share. The
Class A ordinary shares began trading on Nasdaq Capital Market
under the ticker symbol "AZI" on August 28,
2024.
The Company received aggregate gross proceeds of US$10 million from the Offering, before deducting
underwriting discounts and other related expenses. In addition, the
Company has granted the underwriter of the Offering an option,
exercisable within 45 days from the date of the underwriting
agreement, to purchase up to an additional 375,000 Class A ordinary
shares at the public offering price, less underwriting discounts
and commissions. The Offering was conducted on a firm commitment
basis.
Net proceeds from the Offering will be used for enhancing our
supply chain management capabilities, expanding the size and
coverage of our MBS stores network, investment in technology
innovations, and general corporate purposes.
Kingswood Capital Partners, LLC acted as sole book runner for
the Offering. DLA Piper UK LLP served as U.S. counsel to the
Company. VCL Law LLP served as U.S. counsel to the underwriter.
A registration statement on Form F-1 (File No. 333-281215),
relating to the Offering was previously filed with the U.S.
Securities and Exchange Commission ("SEC") by the Company, and was
declared effective by the SEC on August 27,
2024. The Offering is being made only by means of a
prospectus, forming a part of the registration statement. A final
prospectus relating to the Offering has been filed with the SEC and
is available on the SEC's website at www.sec.gov. Electronic copies
of the final prospectus related to the Offering may be obtained
from Kingswood Capital Partners, LLC, 126 E 56th St, Suite 22S, or
by telephone at +1 732-910-9692.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company's securities
described herein, nor shall there be any sale of the Company's
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Autozi Internet Technology (Global) Ltd.
Autozi Internet Technology (Global) Ltd. is one of the leading
and fast-growing lifecycle automotive service providers in
China. Autozi, founded in 2010,
provides high-quality, affordable and professional one-stop
automotive products and services through online and offline
channels nationwide. Our business segments include (i) new car
sales, (ii) auto parts and auto accessories sales, and (iii)
automotive insurance related services. Leveraging our online supply
chain cloud platform, SaaS platforms, and the network of
multiple-brand-service (MBS) stores, we have established an
ecosystem of lifecycle automotive services by connecting automotive
manufacturers, auto parts manufactures, and insurance companies
with MBS stores and various automotive owners. For more
information, visit the Company's website at
https://www.autozi.com/en/investor.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
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SOURCE Autozi Internet Technology (Global) Ltd.
