Chijet Motor Completes Approximately $300 Million Cryptocurrency Private Placement

Chijet Motor Company, Inc (NASDAQ: CJET) announced the completion of a cryptocurrency-denominated private placement, raising approximately $300 million. This issuance was targeted at non-U.S. institutional investors, with each unit consisting of 1 share of common stock (par value $0.003, priced at approximately $0.10 in equivalent cryptocurrency) and 3 warrants (exercise price approximately $0.12 in equivalent cryptocurrency, valid for 3 years, exercisable under certain conditions on a cashless basis). The company stated that the funds raised will be used to strengthen cryptocurrency asset custody infrastructure and support potential acquisition plans.