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Chijet Motor completed a $300 million private sale of Crypto Assets.
PANews, October 27 - According to GLOBE NEWSWIRE, Chijet Motor Company, Inc (NASDAQ: CJET) announced the completion of a private sale priced in Crypto Assets, raising approximately $300 million. This issuance to non-U.S. institutional investors includes 1 share of common stock (par value $0.003, priced at approximately $0.10 in equivalent Crypto Assets) and 3 warrants (exercise price approximately $0.12 in equivalent Crypto Assets, with a term of 3 years and cashless exercise under certain conditions). The company stated that the proceeds will be used to strengthen the infrastructure for Crypto Assets custody and for potential acquisitions.