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Luokung Technology Corp. Announces $32.8 Million Registered Direct Offering

Sep 20, 2021•almost 4 years ago

Amount Raised

$32.8 Million

BeijingTransportationNavigation And MappingData And AnalyticsInformation TechnologySoftware

Description

Luokung Technology Corp. (the "Company" or "Luokung") (NASDAQ: LKCO), today announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of $32.8 million of ordinary shares at a price of $1.20 per share. The Company will issue a total of 27,333,300 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 13,666,650 ordinary shares at an exercise price of $1.60 per share, which Warrants will have a term of three years from the date of issuance.

Company Information

Company

Luokung Technology

Location

Beijing, Beijing, China

About

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 related intelligent spatial-temporal big data, Luokung established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including autonomous driving, vehicle-road collaboration (V2X), smart transportation, smart travel, local business LBS, new infrastructure, smart cities, and smart industries (emergency, natural resources, environmental protection, water conservancy, energy, smart training, among others). The Company routinely provides important updates on its website: www.luokung.com/en.

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