BEIJING, July 26,
2022 /PRNewswire/ -- Luokung Technology
Corp. (the "Company" or "Luokung") (NASDAQ: LKCO), today announced
that it has entered into certain securities purchase agreements
with certain institutional investors for a registered direct
offering of $8 million of ordinary
shares at a price of $0.30 per share.
The Company will issue a total of 26,666,666 ordinary shares to the
institutional investors. As part of the transaction, the Company
will also issue to the investors warrants ("Warrants") for the
purchase of up to 26,666,666 ordinary shares at an exercise price
of $0.41 per share, which Warrants
will have a term of five years from the date of issuance.
The net proceeds from this offering will be used for working
capital and general corporate purposes. The offering is expected to
close on or about July 28, 2022,
subject to the satisfaction of customary closing conditions.
FT Global Capital, Inc. acted as the exclusive placement agent
for the transaction.
These securities are being offered by means of a prospectus
supplement pursuant to the Company's effective "shelf" registration
statement on Form F-3 and base prospectus contained therein. A
"shelf" registration statement (SEC Filing No. 333-233108) relating
to these securities, including a prospectus, was filed with the
Securities and Exchange Commission (the "SEC") on August 8, 2019, and declared effective by the SEC
on August 16, 2019. A prospectus
supplement to such prospectus relating to and describing the terms
of the registered direct offering will be filed with the SEC.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, and these securities cannot be
sold in any state in which this offer, solicitation, or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state. Any offer will be made only by
means of the prospectus and accompanying prospectus supplement,
forming a part of the effective registration statement.
For further details of this transaction, please see the Form 6-K
to be filed with the SEC.
About Luokung Technology Corp.
Luokung Technology Corp. is a leading spatial-temporal
intelligent big data services company, as well as a leading
provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies
and expertise in HD Maps and multi-sourced intelligent
spatial-temporal big data, Luokung has established city-level and
industry-level holographic spatial-temporal digital twin systems
and actively serves industries including smart transportation
(autonomous driving, smart highway and vehicle-road collaboration),
natural resource asset management (carbon neutral and environmental
protection remote sensing data service), and LBS smart industry
applications (mobile Internet LBS, smart travel, smart logistics,
new infrastructure, smart cities, emergency rescue, among others).
The Company routinely provides important updates on its
website: https://www.luokung.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains certain forward-looking statements.
Forward-looking statements include, but are not limited to,
statements regarding our or our management's expectations, hopes,
beliefs, intentions or strategies regarding the future and other
statements that are other than statements of historical fact. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate", "believe", "continue", "could",
"estimate", "expect", "intend", "may", "might", "plan", "probable",
"potential", "should", "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
The forward-looking statements in this press release are based
upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, management's
examination and analysis of the existing law, rules and regulations
and other data available from third parties. Although we believe
that these assumptions were reasonable when made, because these
assumptions are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you the statement herein will
be accurate. As a result, you are cautioned not to rely on any
forward-looking statements.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
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SOURCE Luokung Technology Corp.