SOS Ltd. Announces Pricing of Approximately $4.0 million Registered Direct Offering
QINGDAO, China, Dec. 22, 2020 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS"), a high-tech company providing a wide range of data mining and marketing analysis services to its corporate and individual members in China, announced today that it has entered into a securities purchase agreement with certain accredited investors to purchase $4,030,000.00 of its American Depositary Shares ("ADS") and warrants in a registered direct offering.
Under the terms of the securities purchase agreement, the Company has agreed to sell 2,600,000 ADSs and warrants to purchase 2,600,000 ADSs. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.55. The warrants will expire five years from the date of issuance. The purchase price for one ADS and one corresponding warrant will be $1.55. The gross proceeds to the Company from the registered direct offering are estimated to be $4,030,000.00 before deducting the placement agent's fees and other estimated offering expenses. The registered direct offering is expected to close on or about December 24, 2020, subject to the satisfaction of customary closing conditions.
Maxim Group LLC is acting as sole placement agent in connection with this offering.