Kandi Technologies raises $11M in private placement

|About: Kandi Technologies Group... (KNDI)|By:, SA News Editor

Highflier Kandi Technologies (KNDI) raises some money with the direct placement of 606K shares to two institutional investors at $18.24 each for proceeds of about $11M. As part of the deal, the company also issues those investors 90.9K warrants struck at $22.80 per share and expiring in 18 months.

Shares -4% premarket to $20.31.