Lobo EV Technologies Ltd. (LOBO) has released an update.
Lobo EV Technologies Ltd. has confirmed an underwriting agreement with Kingswood Capital Partners to issue and sell 1,380,000 ordinary shares, with an option for an additional 207,000 shares. The agreement includes a 7% underwriting discount and provisions for a Representative’s Warrant, exercisable for five years. Payment for shares will be conducted through wire transfer with the assistance of an escrow agent to manage part of the proceeds.
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