Ayro Possible inverse Head & Shoulders detected within a C&H
AYRO has a lot of potential as an American Company focussing on a niche. Now everything starts opening up post Corona era, it should be able to sign contracts and start delivering their EVs.Also at February 11th they had entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 4,400,001 shares of the Company’s common stock, at a purchase price of $9.50 per share, in a registered direct offering priced at-the-market under Nasdaq rules. In addition, the Company granted to the investors in the offering the right to acquire an aggregate of 3,300,001 shares of the Company’s common stock at a purchase price of $11.50 per share until the one-year anniversary of the closing date of the offering. The closing of the offering is expected to occur on or about February 16, 2021, subject to the satisfaction of customary closing conditions.
The gross proceeds to the Company from this offering are expected to be approximately $41,800,000, before deducting financial advisory fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
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