Huachen AI Parking Management Technology Holding Co Ltd (HCAI) News & EventsHCAIHuachen AI Parking Management Technology Holding Co Ltd

Huachen AI Parking Secures $2.75M Financing

Huachen AI Parking announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of an aggregate of 2.75M Class A Ordinary Shares, par value of $0.0000375 per share, of the company, and Ordinary Warrants to purchase up to 2.75M Class A Ordinary Share of the company, at a purchase price of $1.00 per Ordinary Share and accompanying Ordinary Warrant. The aggregate gross proceeds from the Offering are expected to be approximately $2.75M, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses. Each Ordinary Warrant will be immediately exercisable upon issuance at an initial exercise price of $1.00, which is equal to the offering price per Ordinary Share and accompany Ordinary Warrant. The exercise price of the Ordinary Warrant is subject to customary anti-dilution adjustments in connection with share splits, share combinations, dividend distributions, subsequent equity sale and other corporate restructurings. The Ordinary Warrant will expire on the third anniversary of the issuance date. The transaction is expected to close on or about September 16, subject to the satisfaction of customary closing conditions. Maxim Group is acting as the sole placement agent for the offering.

Huachen AI Parking Enters Strategic Cooperation Agreement with Beyinda

Huachen AI Parking announced that it has entered into a strategic cooperation framework agreement with Beyinda. Under the Agreement, Huachen will leverage its market channels, customer resources and business development capabilities to assist Beyinda in expanding sales of its products in mainland China. The cooperation is expected to include market development and customer introductions, support for commercial negotiations, brand promotion, after-sales service coordination and other matters that the parties may agree to in writing. Beyinda will be responsible for product manufacturing, quality assurance and delivery in accordance with specific orders. The cooperation is non-exclusive. The agreement serves as a framework arrangement and does not constitute a minimum purchase or sales commitment; product specifications, quantities, pricing, delivery, payment and other commercial terms will be determined separately in specific orders or other transaction documents. No revenue-sharing, pricing, commission, or other compensation terms have been agreed between the parties under the agreement. Huachen's economic interest in the cooperation will be determined by the terms of specific orders or other transaction documents, if any, that the parties may enter into in the future. There can be no assurance that any such orders will be entered into or that the cooperation will generate revenue for the company.

Huachen AI Parking Mgmt Trading Halted, Volatility Pause

Huachen AI Parking Mgmt Tech Hldg Co Ltd trading halted, volatility trading pause