1. Autozi entered into material agreements impacting their securities and notes. 2. Agreement waives prior registration rights, ending potential claims from the investor. 3. Company issued a new convertible note worth $1,534,250 to the investor. 4. The new note matures in one year and bears no interest. 5. These agreements may affect Autozi's future capital structure and funding.
The issuance of new convertible debt could help improve liquidity, attracting investor confidence. Historical instances show such moves can support stock price stability and growth, especially in cash-intensive sectors like automotive services.
The announcement reflects significant changes in Autozi's financial agreements and capital strategy, impacting current and future investor sentiment.
The effects of this agreement will likely manifest quickly due to its immediate impact on the capital structure, particularly in a market seeking signals of financial health and adaptability.
BEIJING, Sept. 22, 2025 /PRNewswire/ -- Autozi Internet Technology (Global) Ltd. (NASDAQ:AZI) ("Autozi" or the "Company"), an automotive products and services company in China, today announced that it has entered into material definitive agreements.
As previously reported, on February 19, 2025, Autozi Internet Technology (Global) Ltd. (the "Company") entered into an Amended and Restated Securities Purchase Agreement (the "Amended SPA") and an Amended and Restated Registration Rights Agreement (the "RRA") with JAK Opportunities XII LLC (the "Investor"). Pursuant to the Amended SPA, the Company issued to the Investor a senior unsecured convertible note (the "Existing Note") and six incremental warrants (the "Incremental Warrants"). The Incremental Warrants provided the Investor the right to purchase additional senior unsecured convertible notes of the Company with an aggregate original principal amount of up to $24,000,000. The RRA required the Company to, among other things, file a registration statement with the Securities and Exchange Commission (the "SEC") for the resale of the Class A ordinary shares issuable upon conversion of the notes. In accordance with the RRA, the Company filed a registration statement on Form F-1 (the "Initial Registration Statement") with the SEC on April 30, 2025.
On September 19, 2025, the Company entered into a Waiver and Release Agreement (the "Waiver Agreement") with the Investor, under which the Investor has agreed to terminate its registration rights, irrevocably waive any claims associated therewith, and relinquish its right to future investments under the Incremental Warrants, in exchange for the Company issuing a new senior unsecured convertible note to the Investor. Pursuant to the terms of the Waiver Agreement and subject to the conditions set forth therein, the RRA has been terminated in its entirety, and all six outstanding Incremental Warrants, which entitled the Investor to purchase up to $24,000,000 in additional convertible notes, have been cancelled and are of no further force or effect. The Company issued a new senior unsecured convertible note to the Investor with an original principal amount of $1,534,250, bearing no interest and maturing in one year (the "New Note").
The New Note was issued and sold in a private placement exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Company relied on the exemption from registration provided by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder for transactions not involving a public offering, based on the representations and warranties of the Investor, including its status as an "accredited investor." The Class A ordinary shares issuable upon conversion of the New Note have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The foregoing descriptions of the Waiver Agreement and the New Note do not purport to be complete and are qualified in their entirety by reference to the full text of these agreements. Copies of the Waiver and Release Agreement and the Form of Senior Unsecured Convertible Note are filed as Exhibit 10.1 and Exhibit 4.1, respectively, to the Company's Form 6-K filed with the Securities and Exchange Commission (the "SEC") on September 19, 2025.
About Autozi
Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, including but not limited to statements related to Autozi's cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend," "ought to," "plan," "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company's beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contact Information
Autozi Internet Technology (Global) Ltd.
Mr. Jiabing Song
Email: boardoffice@autozi.com
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SOURCE Autozi Internet Technology (Global) Ltd.