- MICT, Inc. (NASDAQ:MICT) tumbles 35.1% premarket after BNN Technology terminated its previously announced tender offer to purchase up to 1,953,423 shares of MICT common stock at a purchase price of $1.65 per share.
- BNN's obligation to purchase the shares of common stock of MICT pursuant to the tender offer was subject to various terms and conditions, including a condition that neither MICT nor its subsidiaries has proposed the issuance or sale of any additional equity securities.
- On June 4, 2019, howevr, MICT entered into a securities purchase agreement with a group of investors to issue shares of preferred stock and warrants to purchase shares in a private placement.