Sos Ltd（SOS）资讯与事件SOSSos Ltd

SOS Limited reveals end of deposit agreement and plans for direct share listing.

SOS Limited announced its plan to terminate the amended and restated Deposit Agreement dated May 4, 2017, as amended, by and among the company, Citibank, and the holders of ADSs from time to time, effective September 8. In connection with the termination, the company held an extraordinary general meeting of shareholders on August 11 at which its shareholders approved an increase to the company's authorized share capital, as well as a 150-for-1 share consolidation of its ordinary shares, such that each and every 150 issued and unissued Class A and Class B Ordinary Shares of a par value of $0.005 each in the share capital of the company be consolidated into 1 Class A Ordinary Share of a par value of $0.75 and 1 Class B Ordinary Share of a par value of $0.75, respectively. The new effective date of the termination of the Deposit Agreement will be September 8, date on which holders of ADSs will have their ADSs automatically cancelled and will be entitled to receive the corresponding underlying Class A ordinary shares, par value 75c per share, at a rate of one Ordinary Share for each ADS cancelled. Following the mandatory exchange, the ordinary shares are anticipated to trade directly on the NYSE under the current trading symbol "SOS".

SOS Limited announces pricing of $7.5M registered direct offering

SOS Limited announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 2,142,855 American Depositary Shares in a registered direct offering. In a concurrent private placement, the company also agreed to issue and sell unregistered Warrants to purchase up to an aggregate of 4,285,710 ADSs. The combined effective offering price for each ADS and the accompanying Warrants is $3.50. Each private placement warrant will be immediately exercisable, expire five and one-half years from the initial exercise date and will have an exercise price of $3.50 per share. The combined gross proceeds to the company from the registered direct offering and concurrent private placement are estimated to be $7.5M before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about July 31, subject to the satisfaction of customary closing conditions. Maxim Group is acting as the sole placement agent in connection with the offering.