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EZGO Technologies Ltd. Announces Pricing of $11.2 Million Initial Public Offering

Jiangsu, China – (NewMediaWire) – January 25, 2021 – EZGO Technologies Ltd. (Nasdaq: EZGO) (“EZGO” or the “Company”), a leading
short-distance transportation solutions provider in China, today announced the pricing
of its firm commitment initial public offering of 2,800,000 ordinary shares at
a public offering price of $4.00 per share, for total gross proceeds
of $11.2 million, before deducting underwriting discounts, commissions and
other related expenses. In addition, EZGO has granted the underwriters a 45-day
option to purchase up to an additional 420,000 ordinary shares at the public
offering price, less underwriting discount and commissions. The shares are scheduled
to begin trading on the Nasdaq Capital Market tomorrow, January 26, 2021, under
the ticker symbol “EZGO”. The offering is expected to close on or
about January 28, 2021,
subject to customary closing conditions.

ViewTrade Securities, Inc., a global provider of
brokerage, investment banking, corporate /advisory and trading platform
services, acted as sole book-running manager for the offering.

A registration statement relating to the securities being
sold in this offering was declared effective by the Securities and Exchange
Commission on December 31, 2020. The offering of these securities was made only
by means of a prospectus, forming a part of the registration statement. A copy
of the final prospectus related to the offering may be obtained, when
available, from ViewTrade Securities, via email: 
IB@Viewtrade.com or
standard mail at ViewTrade Securities, 7280 W Palmetto Park Rd, #310, Boca
Raton, FL 33433, Attn: Prospectus Department. In addition, a copy of the
final prospectus relating to the offering may be obtained via the SEC’s website
at 
www.sec.gov.

This press release shall not
constitute an offer to sell or the solicitation of an offer to buy any of the
Company’s securities, nor shall such securities be offered or sold in the
United States absent registration or an applicable exemption from registration,
nor shall there be any offer, solicitation or sale of any of the Company’s
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.

About EZGO Technologies
Ltd.

Leveraging an Internet of Things (IoT) product and
service platform, EZGO has established a business model centered on the sale of
electronic bicycles and battery and e-bicycle rentals, complemented by sale of
battery packs, battery cell trading and a charging pile
business. Currently, the Company (i) trades lithium cells; (ii) rents and
sells lithium batteries; (iii) designs, manufactures, rents and sell e-bicycles
and e-tricycles; and (iv) sells, franchises and operates smart charging piles
for e-bicycles and other electronic devices.

 

Safe Harbor Statement

This press release
contains forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements that are other than statements
of historical facts. When the Company uses words such as “may, “will, “intend,”
“should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not guarantees
of future performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company’s expectations discussed
in the forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the following:  the
Company’s goals and strategies; the Company’s future business development;
product and service demand and acceptance; changes in technology; economic
conditions; the growth of the short-distance transportation solutions market in
China and the other international markets the Company plans to
serve
; reputation and
brand; the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China
and the international markets the Company
plans to serve and assumptions underlying or related to any of
the foregoing and other risks contained in reports filed by the Company with
the SEC.  For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company’s filings with the SEC, which
are available for review at
www.sec.gov. The Company undertakes no obligation to
publicly revise these forward‐looking statements to reflect events or
circumstances that arise after the date hereof.

For more information,
please contact:

At the Company:

Menz Wen

Email: ir@ez-go.com.cn.

Phone: (+86) 13502829216

 

Investor
Relations:
                                                                                                               

Rick Eisenberg                                                                                                            
Eisenberg
Communications                                                                                                              

Email:
eiscom@msn.com                                                                                   
            
Phone: (+1) 917-691-8934

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