CHIJET MOTOR Announces ~$11M Offering Of 8.5M Common Stocks At $1.30/Share

CHIJET MOTOR COMPANY, INC. (NASDAQ:CJET) (the "Company"), today announced that it has entered into securities purchase agreements with certain investors for the purchase and sale of an aggregate of 8,461,530 of the Company's class A ordinary shares (the "Shares") (or pre-funded warrants in lieu thereof) at a purchase price of $1.30 per share in a registered direct offering.

The aggregate gross proceeds to the Company are expected to be approximately $11.0 million.