JINHUA, China, March 19, 2014 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the 'Company' or 'Kandi') (Nasdaq:KNDI), today announced that it has entered into a securities purchase agreement with two institutional investors for a registered direct placement of approximately $11,053,440 of common stock at a price of $18.24 per share. The Company will issue a total of 606,000 shares to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants for the purchase of up to 90,900 shares of common stock at an exercise price of $22.80 per share, which warrants have a term of 18 months from the date of issuance.
Kandi Technologies Announces Entry Into Agreement For Registered Direct Placement Of Approximately $11.05 Million Of Common Stock And Warrants
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