SHENZHEN, China, March 12, 2021 /PRNewswire/ -- MingZhu
Logistics Holdings Limited (Nasdaq: YGMZ) (the "Company"), a
China-based trucking services
provider, today announced that it has closed a registered direct
offering of an aggregate of 3,333,335 units of its securities
(each, a "Unit"), with each Unit consisting of (i) one ordinary
share of the Company, par value $0.001 per share, and (ii) one warrant to
purchase 0.75 ordinary share (together, the "Warrants"), at a price
of $6.00 per unit for aggregate gross
proceeds of $20 million. After
deducting the placement agent's commission and other offering
expenses payable by the Company, the net proceeds to the Company is
approximately $18 million. The
Company has approximately 15,687,375 ordinary shares outstanding
after the offering.
The Company intends to use the net proceeds of the offering for
working capital and general corporate purposes.
FT Global Capital, Inc. is acting as the exclusive placement
agent in connection with the offering. Ellenoff Grossman &
Schole LLP acted as counsel to the Company and Schiff Hardin LLP
acted as counsel to the Placement Agent in connection with the
placement.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About MingZhu Logistics Holdings Limited
Founded in 2002 and Headquartered in Shenzhen, China, MingZhu is 4A-grade trucking
services provider, offering both network density and broad
geographic coverage to meet customers' diverse transportation
needs. The Company operates two regional terminals in Guangdong Province and Xinjiang Autonomous
Region, respectively, with a mix of self-own fleets of tractors and
trailers and subcontractors' fleets. More information about MingZhu
can be found at: www.szygmz.com/en/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements also are subject to risks,
uncertainties and assumptions, including those detailed from time
to time in the Company's filings with the SEC, and represent the
Company's views only as of the date they are made and should not be
relied upon as representing the Company's views as of any
subsequent date. The Company undertakes no obligation to publicly
revise any forward-looking statements to reflect changes in events
or circumstances.
For more information, please contact:
At the Company:
Dennis Tan
Email: company@szygmz.com
Phone: (+86) 150-1854-1833
Investor Relations:
Sherry
Zheng
Email: shunyu.zheng@weitian-ir.com
Phone: (+1) 718-213-7386
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SOURCE MingZhu Logistics Holdings Limited