Luokung Technology Corp. Announces $8 Million Registered Direct Offering
Summary
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 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 Companys effective "shelf" registration statement on Form F-3 and base prospectus contained therein. 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.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. The Company routinely provides important updates on its website: https://www.luokung.com.This press release contains certain 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, managements examination and analysis of the existing law, rules and regulations and other data available from third parties.