NEW YORK, Sept. 05, 2025 – Chijet Motor Company, Inc. (NASDAQ: CJET), referred to as the “Company,” a technology firm specializing in the creation, production, sale, and servicing of both conventional fuel and new energy vehicles, announced today the distribution of 640,850 Class A ordinary shares, each with a par value of US$0.003 (these are the “Ordinary Shares”). These shares were allocated pro rata to individuals holding contingent value rights (“CVRs”) as of the July 22, 2025 record date, who are now termed the “Qualifying CVR Holders,” based on the number of CVRs each held. The official record date for these Qualifying CVR Holders to be eligible for these shares was July 22, 2025.
Because specific earnout targets outlined in the Business Combination Agreement (the “BCA”), which the Company entered into on October 25, 2022, were not met for the fiscal year concluding December 31, 2024, two of the Company’s shareholders, Euroamer Kaiwan Technology Company Limited and Chijet Holdings Limited, returned a collective 640,850 Ordinary Shares (identified as the “Earnout Shares”) to the Company for cancellation. In accordance with the BCA, the Company is obligated to distribute an equivalent number of Ordinary Shares, matching the Earnout Shares, among the Qualifying CVR Holders pro rata, determined by the quantity of CVRs each holder possesses. With a total of 1,300,706 CVRs currently issued and outstanding, each CVR grants the holder an entitlement to 0.492694 Ordinary Shares.
If a Qualifying CVR Holder would receive a fractional Ordinary Share (after combining all fractional shares they are entitled to), the total number of Ordinary Shares issued to that individual will be rounded down to the closest whole Ordinary Share.
About Chijet Motor Company, Inc.
Chijet primarily focuses on the design, manufacturing, sales, and maintenance of both traditional fuel vehicles and new energy vehicles (NEVs). The Company leverages advanced manufacturing processes and robust supply chain management to deliver high-performance products to consumers at competitive prices. Beyond its substantial modern vehicle production facility in Jilin, China, Chijet is also establishing a dedicated NEV production plant in Yantai, China, which will commence operations once construction is complete. Chijet’s leadership comprises seasoned industry professionals with extensive backgrounds spanning engineering, design, general management, fundraising, industrial operations, and financial oversight. For further details on Chijet, please visit .
Chijet Contact:
2888 Donshan Street
Gaoxin Automobile Industrial Park
Jilin City, JL. P.R.China
400-606-8888
EMAIL:
Forward-Looking Statements
This press release includes forward-looking statements, as defined by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and created in line with the ‘safe harbor’ provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s outlook on its future financial and operational performance, utilizing words such as ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘target,’ ‘aim,’ ‘predict,’ ‘outlook,’ ‘seek,’ ‘goal,’ ‘objective,’ ‘assume,’ ‘contemplate,’ ‘continue,’ ‘positioned,’ ‘forecast,’ ‘likely,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately,’ and similar phrases to indicate the uncertain nature of future events or outcomes. Such forward-looking statements are built upon the Company’s present expectations, assumptions, and forecasts, encompassing assessments of future economic conditions, competitive environments, market trends, and business choices, many of which are inherently difficult to foresee accurately and are largely outside the Company’s influence. Furthermore, these statements are susceptible to numerous known and unknown risks, uncertainties, and other factors that could cause the Company’s actual results to differ materially from those presented in any forward-looking statement. These elements include, but are not limited to, fluctuating economic circumstances, competitive pressures, and shifts in regulations. Given these and other risks, uncertainties, and assumptions, readers are cautioned not to place undue reliance on these forward-looking statements. Moreover, these statements are valid only as of the date of this press release, and unless legally mandated, the Company disclaims any obligation to publicly revise or update any forward-looking statements for any reason.
