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CBAK Energy Announces $70 Million Registered Direct Offering Priced At the Market Under Nasdaq Rules
DALIAN, China, Feb. 8, 2021 /PRNewswire/ -- CBAK Energy Technology, Inc. ("CBAK Energy", or the "Company," NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that it has entered into a securities purchase agreement (the "Agreement") with certain institutional investors for a registered direct placement of approximately $70 million of its common stock, priced at the market under applicable Nasdaq rules with a price of $7.83 per share. As part of the Agreement, the Company will issue certain Series A-1 Warrants to the investors to purchase a total of 4,469,988 shares of common stock and certain Series A-2 Warrants to purchase up to 2,234,992 shares of common stock, both of which are at a purchase price of $7.67 per share. Series A-1 Warrants and Series A-2 Warrants are exercisable for 42 months and 45 months, respectively, from the issue date. The Company will also issue certain Series B Warrants to the investors to purchase a total of 4,469,988 shares of common stock at a purchase price of $7.83 per share, which are exercisable for 90 days from the issue date.
2021
Feb 08,2021
02-08
CBAK Energy Signs Agreement With Bus Manufacturer, Seeing Growing Revenues From EV Market
DALIAN , China, Feb. 5, 2021 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy", or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that its wholly owned subsidiary, Nanjing CBAK New Energy Technology Co., Ltd. ("Nanjing CBAK"), has signed an approximately $1.4 million product framework agreement (the "Agreement") to supply battery systems for 10.5m electric buses to Sichuan Guohong Automobile Co., Ltd. ("Sichuan Guohong").
Feb 05,2021
02-05
CBAK Energy Announces Production Capacity Expansion in Anticipation of Increasing Client Orders
DALIAN, China, Feb. 3, 2021 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy", or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider, today provided additional details for its plans previously disclosed in its 8-K filing to expand its production capacity in Nanjing and Dalian in anticipation of increasing client orders.
Feb 03,2021
02-03
CBAK Energy Partners With Chengdu Raja to Jointly Develop Battery Swapping Project and UPS Project
DALIAN, China, Jan. 25, 2021 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy", or the "Company"), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that its wholly-owned subsidiary, Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK"), recently signed a one-year strategic cooperation framework agreement (the "Agreement") with Chengdu Raja New Energy Automotive Technology Co., Ltd. ("Raja"). As part of the Agreement, the two parties plan to jointly develop a battery swapping project for the food delivery and logistics industries as well as an uninterruptible power supply ("UPS") project for traffic lights. Both parties will utilize their respective competitive advantages in their establishment of a long-term strategic cooperative relationship.
Jan 25,2021
01-25
CBAK Energy Partners With JAC Motors to Jointly Develop New Battery Cells
DALIAN, China, Jan. 11, 2021 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy", or the "Company",), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that it has signed a three-year strategic agreement (the "Agreement") with Anhui Jianghuai Motors Group Co., Ltd (SSE: 600418) ("JAC Motors") for joint product development.
Jan 11,2021
01-11
CBAK Energy Announces the Closing of $49.2 Million Registered Direct Offering
CBAK Energy Technology, Inc. ("CBAK Energy", or the "Company", NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that it closed the registered direct offering of approximately $49.2 million of common stock at a price of $5.18 per share on December 10, 2020, as previously announced on December 8, 2020. The Company issued a total of 9,489,800 shares of common stock to the institutional investors.
2020
Dec 11,2020
12-11
CBAK Energy Announces Entry into Agreement for Registered Direct Placement of $49.2 Million of Common Stock and Warrants
CBAK Energy Technology, Inc. ("CBAK Energy", or the "Company", NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct placement of approximately $49.2 million of common stock at a price of $5.18 per share. The Company will issue a total of 9,489,800 shares of common stock to the institutional investors.
Dec 08,2020
12-08
CBAK Energy Joined Hands with LEAD to develop Smart Lithium Battery Automatic Production Line
CBAK Energy Technology, Inc. ("CBAK Energy", or the "Company", NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK") signed a joint development agreement with Wuxi Lead Intelligent Equipment Co., Ltd.("LEAD"). The two parties plan to jointly design and develop the automatic production line for manufacturing tab-less power lithium batteries with high efficiency, high stability and high intelligence. The main models of products that are expected to be manufactured on this line are 4680, 46105, 32140, 34154, 34184 and 34200.
Dec 07,2020
12-07
CBAK and NEMTRI Founded R&D Center to Explore the R&D and Application of Solid-State Batteries
CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK", or the "Company") signed a strategic cooperation agreement with Changxing Sino-Russian New Energy and Material Technology Research Institute ("NEMTRI"), and founded the Power Battery Technology R&D Center (the "R&D Center"). The two parties will expand cooperation in the fields of solid-state battery, quasi solid-state battery, and new high performance electrochemical functional materials.
Dec 02,2020
12-02
CBAK Energy and Kandi Group Signed Supply Framework Agreement
CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK", or the "Company") signed Supply Framework Agreement with Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles"), a wholly owned subsidiary of Kandi Technology Group (NASDAQ: KNDI) in Hangzhou, Zhejiang province. They will promote the development of pure electric vehicle together. The two parties will play their respective advantage, complement each other with their respective resources. A long-term strategic cooperation partnership would be built for the development, supply and recycling of power batteries.
Nov 27,2020
11-27
