Chijet Motor Company Secures $11 Million in Direct Offering
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Chijet Motor Company secured $11 million through a registered direct offering, involving Class A shares and pre-funded warrants, facilitated by Maxim Group LLC. This move aims to enhance the company's capital and operational capabilities. Lock-up agreements with key shareholders restrict share sales for 45 days, potentially stabilizing stock value. Despite this, Spark's AI Analyst rates CJET as Underperform due to financial challenges, negative profitability, and liquidity issues.
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