Toppan Merrill, 12 February 2021
On February 12, 2021, Antelope Enterprise Holdings Ltd. (f/k/a China Ceramics Co., Ltd.) (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Investors”) for the sale by the Company of 588,236 common shares (the “Common Shares”), at a purchase price of $3.57 per share. The Common Shares were offered by the Company pursuant to its shelf registration statement on Form F-3 (File No. 333-228182), which was declared effective by the Securities and Exchange Commission on November 19, 2019.
Concurrently with the sale of the Common Shares, pursuant to the Purchase Agreement the Company also sold warrants to purchase 588,236 common shares (the “Warrants”). The Company sold the Common Shares and Warrants for aggregate gross proceeds of approximately $2.1 million, before commissions and expenses (the “Offering”). Subject to certain beneficial ownership limitations, the five-year Warrants will be immediately exercisable at an exercise price equal to $3.57 per share, subject to adjustments as provided under the terms of the Warrants, and will terminate on the five-year anniversary of the initial exercise date of the Warrants. The closing of the sales of these securities under the Purchase Agreement will take place on or about February 17, 2021.