STOCK TITAN

EZGO Technologies Ltd. (EZGO) launches $100M at-the-market share program

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

EZGO Technologies Ltd. established an at-the-market equity program, allowing it to sell ordinary shares through AC Sunshine Securities LLC for up to $100 million in aggregate. Sales may occur from time to time on Nasdaq or other markets at EZGO’s discretion.

The company will pay the sales agent a 3.0% placement fee on gross proceeds and reimburse certain expenses. EZGO plans to use any net proceeds for general corporate purposes, including expanding sales channels, purchasing new production lines, and investing in research and development.

Positive

  • None.

Negative

  • None.

Insights

EZGO adds flexible capacity to raise up to $100M via an at-the-market stock program.

EZGO Technologies Ltd. entered a Sales Agreement with AC Sunshine Securities LLC enabling an at-the-market equity offering of up to $100 million in ordinary shares under its effective Form F-3 shelf.

This structure lets EZGO issue shares incrementally into the market, with pricing tied to prevailing trading levels. The company pays a 3.0% placement fee on gross proceeds to the sales agent, which is typical for this type of facility.

EZGO states intended uses of net proceeds as general corporate purposes, including expanding sales channels, purchasing new production lines, and funding research and development. Actual dilution and capital raised will depend on the volume and timing of any share sales executed under the program.

ATM capacity $100 million Maximum aggregate offering price for ordinary shares
Placement fee 3.0% of gross proceeds Fee payable to AC Sunshine Securities LLC on each sale
Shelf registration effectiveness date March 4, 2026 Form F-3 (File No. 333-291823) declared effective
Sales Agreement date April 2, 2026 Date EZGO entered into Sales Agreement with sales agent
at-the-market offering financial
"deemed to be an “at-the-market offering” as defined in Rule 415"
An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.
shelf registration statement regulatory
"pursuant to the Company’s shelf registration statement on Form F-3"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
prospectus supplement regulatory
"as supplemented by the prospectus supplement, dated April 8, 2026"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
placement fee financial
"The Company will pay the Sales Agent a placement fee of 3.0%"
indemnification and contribution regulatory
"the Company has agreed in the Sales Agreement to provide indemnification and contribution"

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2026

 

Commission File Number: 001-39833

 

EZGO Technologies Ltd.

(Translation of registrant’s name into English)

 

Building #A, Floor 2, Changzhou Institute of Dalian University of Technology

Science and Education Town

Wujin District, Changzhou City

Jiangsu, China 213164

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F    Form 40-F

  

 

 

 

 

  

Entry into a Material Definitive Agreement.

 

On April 2, 2026, EZGO Technologies Ltd. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with AC Sunshine Securities LLC, as sales agent (the “Sales Agent”), pursuant to which the Company may offer and sell, from time to time at its sole discretion through the Sales Agent, ordinary shares of no par value (the “Ordinary Shares”), of the Company up to an aggregate offering price of $100 million (the Ordinary Shares to be sold pursuant to the Sales Agreement, the “Shares”). The offer and sale of the Shares, if any, will be made pursuant to the Company’s shelf registration statement on Form F-3 (File Number 333-291823), including the base prospectus contained therein, which was initially filed with the United States Securities and Exchange Commission (the “Commission”) on November 26, 2025, and was declared effective by the Commission on March 4, 2026 and as supplemented by the prospectus supplement, dated April 8, 2026, filed with the Commission pursuant to Rule 424(b)(5) of the Securities Act of 1933, as amended (the “Securities Act”), relating to the Shares which may be issued from time to time pursuant to the Sales Agreement (the “Prospectus Supplement”).

 

Under the Sales Agreement, subject to the terms of the placement notice defined in the Sales Agreement, the Sales Agent may sell Shares by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415 under the Securities Act, including, without limitation, sales made directly on the Nasdaq Capital Market, on any other existing trading market for the Ordinary Shares or to or through a market maker.

 

The Sales Agent will use commercially reasonable efforts to sell the Shares up to the amount specified by the Company in, and otherwise in accordance with, the terms of such placement notice. The Company will pay the Sales Agent a placement fee of 3.0% of the gross proceeds from the sale of the Shares sold through the Sales Agent under the Sales Agreement and will reimburse the Sales Agent for certain expenses in connection with entering into the Sales Agreement.

 

The Company is not obligated to make any sales of Shares under the Sales Agreement and no assurance can be given that it will sell any Shares under the Sales Agreement, or, if it does, as to the price or number of Shares that it will sell, or the dates on which any such sales will take place. The Company intends to use the net proceeds from this offering for general corporate purposes, including (i) expand sales channels; (ii) purchase new production lines; and (iii) invest in research and development; however, as of the date of this report, the Company has not entered into any definitive agreements. In the event that any net proceeds are not immediately applied, the Company may temporarily hold them as cash or deposit them in banks.

 

The Sales Agreement may be terminated by the Company or Sales Agent as set forth in the Sales Agreement. Any termination of the Sales Agreement shall be effective on the date specified in such notice of termination, provided that such termination shall not be effective until the close of business on the date of receipt of such notice by the Sales Agent or the Company, as the case may be. If such termination shall occur prior to the settlement date for any sale of the Shares, such sale of the Shares shall settle in accordance with the provisions of the Sales Agreement.

 

In addition, the Company has agreed in the Sales Agreement to provide indemnification and contribution to the Sales Agent against certain liabilities, including liabilities under the Securities Act. The Sales Agreement also contains customary representations and warranties and conditions to the sale of the Shares pursuant thereto.

 

1

 

  

The foregoing is not a complete description of the Sales Agreement and is qualified by reference to the full text and terms of the Sales Agreement, which is filed as Exhibit 10.1 to this current report and incorporated herein by reference.

 

The legal opinion of Maples and Calder, counsel to the Company, relating to the legality of the issuance and sale of the Shares is filed as Exhibit 5.1 hereto.

 

General

 

The information contained in this Report on Form 6-K of the Company, is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-291823) as amended, and into the prospectus or prospectus supplement outstanding under the foregoing registration statement, to the extent not superseded by documents or report subsequently filed or furnished by the Company under Securities Act, or the Securities Exchange Act of 1934, as amended.

 

This report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

  

Exhibit Index

 

Exhibit No.    
5.1   Opinion of Maples and Calder
10.1   Sales Agreement, dated April 2, 2026 by and between EZGO Technologies Ltd. and AC Sunshine Securities LLC
23.1   Consent of Maples and Calder (included in the opinion filed as Exhibit 5.1)

 

2

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  EZGO Technologies Ltd.
     
Date: April 8, 2026 By: /s/ Jianhui Ye
  Name: Jianhui Ye
  Title: Chief Executive Officer

  

3

FAQ

What capital raising arrangement did EZGO (EZGO) establish in this Form 6-K?

EZGO entered a Sales Agreement with AC Sunshine Securities LLC for an at-the-market equity offering. The program allows EZGO to sell ordinary shares over time, at its discretion, for total gross proceeds of up to $100 million under its effective Form F-3 shelf.

What is the maximum amount EZGO (EZGO) can raise under the at-the-market program?

The Sales Agreement permits EZGO to sell ordinary shares for aggregate gross proceeds of up to $100 million. Sales may occur from time to time on the Nasdaq Capital Market or other trading venues, depending on EZGO’s placement notices and market conditions.

How will EZGO (EZGO) compensate AC Sunshine Securities LLC for selling shares?

EZGO will pay AC Sunshine Securities LLC a placement fee equal to 3.0% of the gross proceeds from each share sale under the Sales Agreement. The company will also reimburse certain related expenses, as specified in the agreement’s terms and conditions.

How does EZGO (EZGO) intend to use net proceeds from this at-the-market offering?

EZGO plans to use net proceeds for general corporate purposes. These include expanding sales channels, purchasing new production lines, and investing in research and development, with any unused funds held temporarily as cash or bank deposits until applied.

Is EZGO (EZGO) obligated to sell any shares under the new Sales Agreement?

EZGO is not required to sell any shares through the Sales Agreement. The company can choose whether and when to issue placement notices, and there is no assurance it will sell any shares, or at what prices, volumes, or dates.

On which registration statement is EZGO’s at-the-market offering based?

The at-the-market offering is made under EZGO’s shelf registration statement on Form F-3, File Number 333-291823. This registration was initially filed on November 26, 2025 and declared effective by the SEC on March 4, 2026, then supplemented by an April 8, 2026 prospectus supplement.

Filing Exhibits & Attachments

2 documents