The private placement was oversubscribed by three times and raised $100m for technology development and expansion purposes
Guangzhou, China--(Newsfile Corp. - February 6, 2023) - QZ Asset Management ("QZ ") today announced that it has concluded a private placement round on 31 January 2023 to sell 100,000,000 shares of the company's common stock at a price of US$1.00 per share, for aggregate proceeds of US$100,000,000 to financial institutions.
The net proceeds from the Private Placement are intended to be used for research and development of QZ's big data and artificial intelligence (BDAI) technology, upgrading of existing infrastructure and for global expansion purposes.
Blake Yeung, CEO of QZ Asset Management, commented, "We are extremely pleased with the support QZ received from investors in this oversubscribed financing. Clearly the value of QZ's technology and strength has become recognized, and the company is well positioned to grow and establish itself as a leader in the global financial markets."
The shares to be sold in the non-brokered private placement are subject to applicable United States securities laws. This announcement does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock of QZ Asset Management.
About QZ Asset Management
QZ Asset Management was founded in 2012 and is headquartered at Guangzhou with additional offices worldwide, led by a team of experienced investment professionals and analysts. The company is able to deliver 10 years of excellent trading record using proprietary BDAI (Big Data Artificial Intelligence) trading technology that is based on highly advanced real-time market intelligence and big data analytics.
ON BEHALF OF THE COMPANY:
Blake Yeung
CEO and Director media@qzinvest.com
Cautionary Statement on Forward-Looking Information
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "will" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, statements concerning: the use of proceeds from the Private Placement; and the business plan of the Company generally. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement
Contact Info:
Name: Voong Kuang Jie
Email: media@qzinvest.com
Organization: QZ Asset Management
Website: https://www.qzinvest.com/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153792
