Chijet Motor Company Inc. Announces Issuance of Ordinary Shares to Holders of Contingent Value Rights
Chijet Motor Company (NASDAQ: CJET), a manufacturer of traditional and new energy vehicles, has issued 640,850 class A ordinary shares to contingent value rights (CVR) holders. This issuance comes after two major shareholders, Euroamer Kaiwan Technology Company Limited and Chijet Holdings Limited, surrendered the same number of shares due to unmet earnout milestones for 2024.
The distribution is based on a ratio of 0.492694 ordinary shares per CVR, with a total of 1,300,706 CVRs outstanding. The record date for qualifying CVR holders was set as July 22, 2025, with fractional shares being rounded down to the nearest whole share.
Chijet Motor Company (NASDAQ: CJET), produttrice di veicoli tradizionali e a nuove energie, ha emesso 640.850 azioni ordinarie di classe A a favore dei detentori di diritti di valore condizionato (CVR). L'emissione segue la rinuncia dello stesso numero di azioni da parte di due azionisti di maggioranza, Euroamer Kaiwan Technology Company Limited e Chijet Holdings Limited, a causa del mancato raggiungimento degli obiettivi di earnout per il 2024.
La distribuzione è stata effettuata secondo un rapporto di 0,492694 azioni ordinarie per CVR, con un totale di 1.300.706 CVR in circolazione. La data di riferimento per i titolari di CVR idonei è stata il 22 luglio 2025, e le frazioni di azione sono state arrotondate per difetto alla più vicina azione intera.
Chijet Motor Company (NASDAQ: CJET), fabricante de vehículos tradicionales y de nueva energía, ha emitido 640.850 acciones ordinarias clase A a los titulares de derechos de valor contingente (CVR). Esta emisión se produce tras la entrega del mismo número de acciones por parte de dos accionistas mayoritarios, Euroamer Kaiwan Technology Company Limited y Chijet Holdings Limited, debido a que no se cumplieron los hitos de earnout para 2024.
La distribución se realizó con un ratio de 0,492694 acciones ordinarias por CVR, habiendo un total de 1.300.706 CVR en circulación. La fecha de registro para los titulares de CVR elegibles fue el 22 de julio de 2025, y las fracciones de acción se redondearon hacia abajo al entero más cercano.
Chijet Motor Company (NASDAQ: CJET), 전통 및 신에너지 차량 제조업체가 조건부 가치권(CVR) 보유자에게 640,850주 클래스 A 보통주를 발행했습니다. 이번 발행은 주요 주주인 Euroamer Kaiwan Technology Company Limited와 Chijet Holdings Limited가 2024년 인수 성과(earnout) 목표 미달로 동일 수의 주식을 포기한 데 따른 것입니다.
배분은 CVR당 0.492694 보통주의 비율로 이루어졌으며, 총 1,300,706 CVR가 발행되어 있습니다. 적격 CVR 보유자의 기준일은 2025년 7월 22일로 정해졌고, 주식 소수점은 소수점 이하는 버림 처리되어 가장 가까운 정수주로 조정되었습니다.
Chijet Motor Company (NASDAQ: CJET), fabricant de véhicules traditionnels et de nouvelles énergies, a émis 640 850 actions ordinaires de classe A aux détenteurs de droits de valeur conditionnelle (CVR). Cette émission intervient après que deux actionnaires majoritaires, Euroamer Kaiwan Technology Company Limited et Chijet Holdings Limited, ont renoncé au même nombre d'actions en raison du non-respect des jalons d'earnout pour 2024.
La distribution s'est faite selon un ratio de 0,492694 actions ordinaires par CVR, avec un total de 1 300 706 CVR en circulation. La date d'enregistrement pour les titulaires de CVR éligibles a été fixée au 22 juillet 2025, et les fractions d'actions ont été arrondies par défaut à l'action entière la plus proche.
Chijet Motor Company (NASDAQ: CJET), ein Hersteller traditioneller und neuer Energie-Fahrzeuge, hat 640.850 Stammaktien der Klasse A an Inhaber von bedingten Anspruchsrechten (CVR) ausgegeben. Diese Ausgabe erfolgte, nachdem zwei Großaktionäre, Euroamer Kaiwan Technology Company Limited und Chijet Holdings Limited, dieselbe Anzahl von Aktien wegen nicht erfüllter Earnout-Meilensteine für 2024 zurückgegeben hatten.
Die Verteilung basiert auf einem Verhältnis von 0,492694 Stammaktien je CVR, bei insgesamt 1.300.706 ausgegebenen CVRs. Stichtag für berechtigte CVR-Inhaber war der 22. Juli 2025, und Bruchteile von Aktien wurden auf die nächste ganze Aktie abgerundet.
- None.
- Failed to achieve earnout milestones for calendar year 2024
NEW YORK, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Chijet Motor Company, Inc. (NASDAQ: CJET) (the “Company”), a high-tech enterprise engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles today announced that, it issued a total of 640,850 class A ordinary shares of par value US
As certain earnout milestones provided in the Business Combination Agreement (the “BCA”) entered into by the Company on October 25, 2022, were not achieved for the calendar year ended December 31, 2024, two shareholders of the Company, Euroamer Kaiwan Technology Company Limited and Chijet Holdings Limited, surrendered a total of 640,850 Ordinary Shares (the “Earnout Shares”) to the Company for cancellation. Pursuant to the BCA, the Company shall issue the same number of Ordinary Shares as the Earnout Shares to be allocated among the Qualifying CVR Holders pro rata, based on their respective number of CVRs held. The total number of issued and outstanding CVRs is 1,300,706. Therefore, each CVR is entitled to 0.492694 Ordinary Shares.
A Qualifying CVR Holder who would otherwise be entitled to a fraction of an Ordinary Share (after aggregating all factional ordinary shares that would otherwise be received by such person) shall instead have the number of Ordinary Shares issued to such person rounded down in the aggregate to the nearest whole Ordinary Share.
About Chijet Motor Company, Inc.
The primary business of Chijet is the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. State-of-the-art manufacturing systems and stable supply chain management enable the Company to provide consumers with products of high performance at reasonable prices. In addition to its large modern vehicle production base in Jilin, China, a factory in Yantai, China will be dedicated to NEV production upon completion of its construction. Chijet has a management team of industry veterans with decades of experience in engineering and design, management, financing, industrial production, and financial management. For additional information about Chijet, please visit www.chijetmotors.com.
Chijet Contact:
2888 Donshan Street
Gaoxin Automobile Industrial Park
Jilin City, JL. P.R.China
400-606-8888
EMAIL: bydongban@163.com
Forward-Looking Statements
This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, formulated in accordance with the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements, reflecting the Company's projections about its future financial and operational performance, employ terms like 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'target,' 'aim,' 'predict,' 'outlook,' 'seek,' 'goal,' 'objective,' 'assume,' 'contemplate,' 'continue,' 'positioned,' 'forecast,' 'likely,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and similar expressions to convey the uncertainty of future events or outcomes. These forward-looking statements are based on the Company's current expectations, assumptions, and projections, involving judgments about future economic conditions, competitive landscapes, market dynamics, and business decisions, many of which are inherently challenging to predict accurately and are largely beyond the Company's control. Additionally, these statements are subject to a multitude of known and unknown risks, uncertainties, and other variables that could significantly diverge the Company's actual results from those depicted in any forward-looking statement. These factors include, but are not limited to, varying economic conditions, competitive pressures, and regulatory changes. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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