$LKCO $5.0 Million Registered Direct Placement

NASDAQ:LKCO   Luokung Technology Corp
Luokung Announces Partnership Between EMG and Leading Electric Vehicle Manufacturer BAIC BJEV to Jointly Develop Mapping Services for Autonomous Driving

EMG recently worked with BAIC BJEV to provide HD map services in autonomous valet parking ("AVP") for BAIC New Energy vehicles. The two parties will cooperate in depth on L3 (conditional driving automation) to L4 (high driving automation) autonomous driving related projects.

Luokung Technology Corp . Announces $5.0 Million Registered Direct Placement

today announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of $5.0 million of ordinary shares at a price of $0.52 per share. The Company will issue a total of 9,615,387 ordinary shares to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants ("Warrants") for the purchase of up to 4,807,694 ordinary shares at an exercise price of $0.68 per share, which Warrants will have a term of three years from the date of issuance.


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