09:51 AM EDT, 09/03/2025 (MT Newswires) -- Chijet Motor ( CJET ) said Wednesday that it priced previously announced public offering of about 13.6 million class A common shares and warrants to purchase the same number of class A shares at $0.59 per class A share and accompanying warrants, for a total of about $8 million.

The company said the warrants are immediately exercisable upon issuance at an initial exercise price of $0.59 per share, expiring after five years. The warrants are also exercisable at a zero cash exercise option that will allow the holder to exchange each warrant for 2 class A shares.

Proceeds will be used to acquire new businesses, for talent recruitment, and general working capital purposes, the company added.

Shares of Chijet Motor ( CJET ) were down about 64% in recent Wednesday trading.

Price: 0.22, Change: -0.38, Percent Change: -63.56