• Home
  • News

Sichenzia Ross Ference LLP Represents Borqs Technologies, Inc. in $20 Million Private Placement

borqs technologies logo

Press Release – New York, New York – March 3, 2021 – Sichenzia Ross Ference LLP announced today that it represented Borqs Technologies, Inc. (Nasdaq: BRQS), a global provider of embedded software and products for the Internet of Things (IoT), in a private placement with institutional and individual investors for sale of $20 million in convertible notes. The notes are due in two years, have an annual interest rate of 8%, convertible into ordinary shares of Borqs at 10% discount from the market price and has 90% warrant coverage with the warrants exercisable at 110% of the conversion price.

One-third of the notes are sold at the execution of definitive agreements and two-thirds of the notes will be sold upon the satisfaction of certain conditions, including effectiveness of a registration statement to be filed by the Company by April 15, 2021. 

The Sichenzia Ross Ference LLP team was led by partners Darrin M. Ocasio and Avital Perlman.

Sichenzia Ross Ference Carmel LLP