PANews reported on October 27th, according to GLOBE NEWSWIRE, that Chijet Motor Company, Inc. (NASDAQ: CJET) announced the completion of a cryptocurrency-denominated private placement, raising approximately US$300 million. The offering consisted of units to non-US institutional investors, each consisting of one common share (par value US$0.003, priced at approximately US$0.10 equivalent in cryptocurrency) and three warrants (with an exercise price of approximately US$0.12 equivalent in cryptocurrency, a three-year term, and exercisable in cash less certain conditions). The company stated that the proceeds will be used to strengthen its crypto asset custody infrastructure and for potential mergers and acquisitions.
Chijet Motor Completes $300 Million Private Placement of Cryptocurrency
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