Ambow Education Holding Ltd. announced that it has entered into a securities purchase agreement with an institutional investor to issue 5,000,000 ordinary shares at a price of $0.40 per share for the gross proceeds of $2,000,000 and an accompanying warrant to purchase up to 2,000,000 ordinary shares of the company on February 28, 2023. The warrant is exercisable upon issuance and has a three-year term from the exercise date. The exercise price of the warrant is $0.80 per share.
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