JINHUA, China, Jan. 16, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company" or "Kandi") (Nasdaq:KNDI), today announced that the two institutional investors (the "Investors") to whom the Company issued Series A, B and C Warrants (the "Warrants") in connection with a direct registered offering in June, 2013, have exercised all their outstanding Warrants. All of the Series A and C Warrants were exercised on January 15, 2014, resulting in the issuance to the Investors of an aggregate of: (i) 1,750,415 shares of Common Stock pursuant to the exercise of the Series A Warrants at an exercise price per share of $7.24, and (ii) 291,574 shares of Common Stock pursuant to the exercise of the Series C Warrants at an exercise price per share of $8.69. Previously on January 3, 2014, and, January 6, 2014 all of the Series B Warrants were exercised by the Investors, which resulted in the issuance of an aggregate of 728,936 shares of Common Stock at an exercise price per share of $7.24. As a consequence of the exercise of all of the Series A, B and C Warrants by the Investors, the Company received aggregate cash proceeds of $20,484,279. FT Global Capital, Inc. acted as the solicitation agent for the exercise of the Series A, B and C Warrants.
Kandi Technologies Announces Exercise Of All Series A, B & C Warrants Resulting In $20,484,279 Of Addition New Capital
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