Cenntro Inc. Enters Private Placement Agreement for ~$48.3M

What Happened
Cenntro Inc. (CENN) announced on August 25, 2026 that it entered into securities purchase agreements with certain accredited investors to sell up to 12,800,000 shares of common stock at $3.773 per share, for gross proceeds of approximately $48,294,400. The $3.773 price equals the average Nasdaq official closing price for the five trading days before the agreements. The offering is a private placement, the closing is subject to customary conditions, and as of the August 31, 2026 8‑K filing no shares have been issued.

Key Details

• Agreed amount: up to 12,800,000 shares of common stock at $3.773 per share (approx. $48,294,400 gross proceeds).
• Date of agreements: August 25, 2026; 8‑K filed August 31, 2026.
• Purpose: proceeds intended for working capital and general corporate purposes.
• Nasdaq compliance: conducted under Nasdaq Listing Rule 5635(d), permitting issuance of 20% or more of outstanding shares without shareholder approval when priced at or above the rule’s “Minimum Price.”
• Closing status: subject to customary closing conditions; as of the filing date, conditions not satisfied and no shares issued.

Why It Matters
This transaction, if completed, would raise substantial cash for Cenntro but also could increase the company’s outstanding shares materially (possible dilution), depending on the current share count. Because the placement is structured to comply with Nasdaq rules, it may proceed without shareholder approval if it meets the exchange’s pricing conditions. Investors should note the deal’s pending status — proceeds are not yet received and issuance depends on closing conditions.