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Schiff Hardin LLP acted as counsel to the placement agent in connection with CBAK Energy Technology, Inc.’s registered direct offering of approximately $49.2 million of common stock at a price of $5.18 per share. CBAK Energy is a leading lithium-ion battery manufacturer and electric energy solution provider based in China. They intend to use the net proceeds from this offering for general corporate and working capital purposes.
FT Global Capital, Inc. acted as the exclusive placement agent for the offering, which closed December 11, 2020.