Autozi Raises $5.25M in Convertible Note Financing with $2.5M Option
AZI•Autozi Internet Technology (Global) Ltd. has closed a securities purchase agreement issuing an initial promissory note for up to $5.25 million to an institutional investor. The agreement grants the investor an option to invest an additional $2.5 million via convertible notes within 21 months, enhancing the company’s financial flexibility.
1. Securities Purchase Agreement Execution
On June 23, 2026, Autozi Internet Technology (Global) Ltd. closed a definitive Securities Purchase Agreement with an institutional investor, issuing an initial advance promissory note for gross proceeds of up to $5.25 million. This financing provides immediate capital to strengthen Autozi’s balance sheet and support strategic initiatives.
2. Additional Note Option
Under the Agreement, the investor has the right, upon five business days’ notice and until the 21-month anniversary of closing, to purchase additional promissory notes totaling $2.5 million. Exercising this option will further boost Autozi’s funding capacity as it executes growth plans.
3. Convertible Note Features
Both the initial and additional promissory notes are convertible into Autozi’s ordinary shares at a conversion price tied to the closing sale price at the time of conversion, subject to customary adjustments. These conversion terms introduce potential dilution if the investor converts the notes into equity.
4. Use of Proceeds and Outlook
Autozi intends to deploy the funds to pursue targeted mergers and acquisitions, build a cross-border automotive supply chain platform, and increase R&D investment in its digital and intelligent service offerings. Management believes these initiatives will drive long-term growth and enhance its competitive position in China’s automotive services sector.
