Street Calls of the Week
BEIJING - Autozi Internet Technology (Global) Ltd. (NASDAQ:AZI), currently trading at $0.22 and showing a notable 12.88% gain over the past week, has reached an agreement with JAK Opportunities XII LLC to terminate investor registration rights and cancel warrants worth up to $24 million, according to a press release statement issued Monday. According to InvestingPro analysis, the company’s stock has experienced significant volatility this year.
Under the Waiver and Release Agreement signed on September 19, JAK Opportunities agreed to relinquish its registration rights and waive claims associated with them. The investor also surrendered its right to future investments under six incremental warrants that would have allowed it to purchase additional convertible notes with an aggregate principal amount of up to $24 million.
In exchange, Autozi issued a new senior unsecured convertible note to the investor with an original principal amount of $1,534,250. The note bears no interest and matures in one year.
The agreement follows a previous transaction from February 19, 2025, when Autozi entered into an Amended and Restated Securities Purchase Agreement with JAK Opportunities, issuing a senior unsecured convertible note and six incremental warrants.
The new note was issued in a private placement exempt from registration under the Securities Act of 1933, with the company relying on exemptions for transactions not involving a public offering.
Autozi, founded in 2010, provides automotive products and services in China through online and offline channels, utilizing a supply chain cloud platform and SaaS solutions to connect participants across the automotive industry. The company generated revenues of $156.47M in the last twelve months, though InvestingPro analysis reveals challenges with profitability and financial health, scoring 1.48 out of 5 on their comprehensive financial health assessment. Subscribers can access 9 additional ProTips and detailed financial metrics for deeper analysis.
In other recent news, Autozi Internet Technology (Global) Ltd. announced a change in its Board of Directors as Weston Twigg resigned, citing personal reasons. Yafu Guo has been appointed as an independent director to fill the vacancy left by Twigg, who also stepped down from his roles as Chairman of the Compensation Committee and member of both the Audit Committee and Nominating and Corporate Governance Committee. Additionally, Autozi has received a notification from Nasdaq regarding non-compliance with the minimum Market Value of Listed Securities requirement of $50 million. This notification was issued after Autozi’s market value remained below the required threshold for 30 consecutive business days, from May 22 to July 7, 2025. These developments come amid ongoing challenges for the company in maintaining its market value. The company will need to address these compliance issues to continue its listing on the Nasdaq Global Market.
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