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Autozi Internet Technology (Nasdaq: AZI) announced that Qirun Investment, owned by CEO Dr. Houqi Zhang, will transfer 2.8 million shares to two consulting firms: 2 million shares to Leisure Stream and 800,000 shares to CG Summit Inc. The transfer comes after Kingswood Capital Partners waived lock-up restrictions, effective December 3, 2024. Both receiving firms will enter new 6-month lock-up agreements lasting until February 27, 2025. The share transfers are compensation for strategic consulting services focused on U.S. market analysis, business development, and auto parts supply chain connections.
Autozi Internet Technology (Global) (NasdaqGM: AZI), a leading lifecycle automotive service provider in China, has successfully closed its initial public offering. The company offered 2,500,000 Class A ordinary shares at US$4 per share, raising gross proceeds of US$10 million. Trading began on the Nasdaq Capital Market under the ticker symbol 'AZI' on August 28, 2024. Autozi plans to use the net proceeds to enhance supply chain management, expand its MBS stores network, invest in technology innovations, and for general corporate purposes. Kingswood Capital Partners, acted as the sole book runner for the offering, which was conducted on a firm commitment basis.
Autozi Internet Technology (Global) (NasdaqGM: AZI), a leading lifecycle automotive service provider in China, has announced the pricing of its initial public offering. The company is offering 2,500,000 Class A ordinary shares at US$4 per share, aiming to raise approximately $10 million in gross proceeds. Trading is expected to commence on August 28, 2024, under the symbol "AZI" on the Nasdaq Global Market. The underwriter has been granted an option to purchase up to an additional 375,000 shares. Kingswood Capital Partners, is acting as the sole book runner for the offering, which is expected to close on August 29, 2024, subject to customary conditions.
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