DALIAN, China, Feb. 8, 2021 /PRNewswire/ — CBAK Energy Technology, Inc. (“CBAK Energy”, or the “Company,” NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, today announced that it has entered into a securities purchase agreement (the “Agreement”) with certain institutional investors for a registered direct placement of approximately $70 million of its common stock, priced at the market under applicable Nasdaq rules with a price of $7.83 per share. As part of the Agreement, the Company will issue certain Series A-1 Warrants to the investors to purchase a total of 4,469,988 shares of common stock and certain Series A-2 Warrants to purchase up to 2,234,992 shares of common stock, both of which are at a purchase price of $7.67 per share.

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