Benzinga | Jan 15, 2021 09:02AM EST

SOS Limited Announces Exercise Of Warrants For $26.6M Gross Proceeds

QINGDAO, China, Jan. 15, 2021 /PRNewswire/ -- SOS Limited (NYSE:SOS) (the "Company" or "SOS") today announced the agreement by several accredited investors to exercise certain warrants to purchase up to an aggregate of 16,125,000 of its American Depositary Shares ("ADSs") issued by the company on December 22, 2020, at an exercise price of $1.55, and January 7, 2021, at an exercise price of $1.85 per ADS, respectively.

The ADSs issuable upon exercise of the warrants are registered pursuant to a registration statement on Form F-3 (File No. 333-250145) which became effective by the Securities and Exchange Commission (SEC) on November 30, 2020. The gross proceeds to the company from the exercise of the warrants are expected to be approximately $26.6 million, prior to deducting placement agent fees and estimated offering expenses.

Maxim Group LLC is acting as the exclusive placement agent for the offering.