Recon Technology, Ltd. announced that it has entered into a securities purchase agreement pursuant to which the Company agreed to sell securities to various purchasers to issue 100,000,000 class A common shares at an issue price of $0.11 per share for the gross proceeds of $11,000,000 on January 31, 2024. The Shares are being sold in transactions exempt from registration under the Securities Act of 1933, as amended (the ?Securities Act?). Each Purchaser understands that the Shares have not been registered under the Securities Act.

Such Purchaser will not sell or otherwise dispose of the Shares without registration under the Securities Act, and under applicable state securities or ?Blue Sky? laws, or pursuant to an exemption therefrom. No placement agent was involved in the Private Placement.

The transaction is expected to close on February 2, 2024.