Cenntro Inc. has amended a previously announced private placement agreement to increase the total amount of capital raised. On September 14, 2026, the company entered into a First Amendment to the Securities Purchase Agreement with certain accredited investors.
The amendment, approved by the Board of Directors on the same day, increases the offering size. Originally, the company agreed to sell up to 12,800,000 shares of common stock. Under the amended terms, the company is now authorized to issue and sell an aggregate of up to 15,120,000 shares of common stock.
The purchase price for the shares remains consistent at $3.773 per share. This price is calculated as the average Nasdaq official closing price of the Common Stock for the five trading days immediately preceding the date of the securities purchase agreements.
The private placement closed on September 15, 2026. Cenntro received aggregate gross proceeds of approximately $57,047,760. The company intends to use these funds for working capital and general corporate purposes.
The shares were issued and sold in reliance on exemptions from the registration requirements of the Securities Act of 1933, pursuant to Section 4(a)(2) and Regulation S. The transaction did not involve general solicitation or advertising.
