易电行集团美股招股说明书(2023-09-11版)

424B51ea184750-424b5_ezgotech.htmPROSPECTUSSUPPLEMENT PROSPECTUSSUPPLEMENT (ToProspectusdatedNovember30,2022) FiledPursuanttoRule424(b)(5)RegistrationNo.333-263315 EZGOTechnologiesLtd. 351,433OrdinaryShares Weareoffering351,433ordinaryshares,parvalueof$0.001pershare(the“OrdinaryShare”),at$1.13perOrdinaryShare.OnSeptember6,2023,theCompanyenteredintocertainsecuritiespurchaseagreementsfor8,849,558OrdinarySharesandaccompanyingwarrants(the“Warrants”),witheachoftheWarrantsaccompanyingoneOrdinaryShare,topurchaseupto8,849,558OrdinaryShares,inaregistereddirectofferingtocertaininstitutionalinvestors.ThecombinedpurchasepriceperOrdinaryShareandaccompanyingWarrantis$1.13.EachoftheWarrantsisexercisableforoneWarrantShareatanexercisepriceof$1.13pershare.TheWarrantsareimmediatelyexercisableandmaybeexercisedforaperiodofthreeyearsfollowingtheissuancedate.OnSeptember11,2023,theCompanyenteredintoterminationagreementsfortheterminationofthesaleof8,849,558OrdinarySharesandaccompanyingWarrants,exceptasto351,433OrdinarySharestooneinstitutionalinvestorthatarebeingsoldinthisoffering. AegisCapitalCorp.isactingastheplacementagentforthisoffering.See“PlanofDistribution.”Thenetproceedsreceivedbyusfromthisofferingwillbeusedforworkingcapitalandgeneralbusinesspurposes. OurOrdinarySharesarelistedontheNasdaqCapitalMarket(“Nasdaq”)underthesymbol“EZGO.”OnSeptember8,2023,thelastreportedsalespriceofourOrdinarySharesonNasdaqwas$0.25pershare. Wearean“emerginggrowthcompany”asdefinedunderapplicableU.S.securitieslawsandareeligibleforreducedpubliccompanyreportingrequirements. Investinginoursecuritiesinvolvesahighdegreeofrisk,includingtheriskoflosingyourentireinvestment.See“RiskFactors”beginningonpageS-25andthe“RiskFactors”intheaccompanyingprospectustoreadaboutfactorsyoushouldconsiderbeforepurchasingoursecurities. INVESTORSPURCHASINGSECURITIESINTHISOFFERINGAREPURCHASINGSECURITIESOFEZGOTECHNOLOGIESLTD.,ABRITISHVIRGINISLANDSBUSINESSCOMPANY(“EZGO”),RATHERTHANSECURITIESOFITSSUBSIDIARIESORTHEVIE(ASDEFINEDBELOW)THATCONDUCTSUBSTANTIVEBUSINESSOPERATIONSINCHINA. Inthisprospectussupplement,“we,”“us,”“our,”“ourcompany,”the“Company,”orsimilartermsrefertoEZGOTechnologiesLtd.and/oritsconsolidatedsubsidiaries,otherthanJiangsuEZGOElectronicTechnologies,Co.,Ltd.(formerlyknownasJiangsuBaozheElectricTechnologies,Co.,Ltd.),amainlandChinacompany(the“VIE”).EZGOconductsoperationsinChinathroughChangzhouEZGOEnterpriseManagementCo.,Ltd.(the“WFOE”),theVIEanditssubsidiariesinChina,andEZGOdoesnotconductanybusinessonitsown.ThefinancialresultsoftheVIEanditssubsidiariesareconsolidatedintoourfinancialstatementsforaccountingpurposes,butwedonotholdanyequityinterestintheVIEoranyofitssubsidiaries. InvestinginEZGO’ssecuritiesishighlyspeculativeandinvolvesasignificantdegreeofrisk.EZGOisnotanoperatingcompanyestablishedinthePeople’sRepublicofChina(the“PRC”),butaholdingcompanyincorporatedintheBritishVirginIslands.Asaholdingcompanywithnomaterialoperationsofitsown,EZGOconductsthemajorityofitsoperationsthroughcontractualarrangementswithitsoperatingentitiesestablishedinthePRC,primarilytheVIE,inwhichEZGOdoesnotholdanyequityinterest,andtheVIE’ssubsidiariesbasedinthePRC.Thisvariableinterestentitystructureinvolvesuniqueriskstoinvestors.ThecontractualarrangementswiththeVIEhavenotbeentestedincourt.ThevariableinterestentitystructureisusedtoprovideinvestorswithcontractualexposuretoforeigninvestmentinChina-basedcompanieswhereChineselawprohibitsorrestrictsdirectforeigninvestmentintheoperatingcompanies.DuetoPRClegalrestrictionsonforeignownershipininternet-basedbusinesses,wedonothaveanyequityownershipoftheVIE;instead,wereceivetheeconomicbenefitsoftheVIE’sbusinessoperationsthroughcertaincontractualarrangements.Asaresultofsuchseriesofcontractualarrangements,EZGOanditssubsidiariesbecometheprimarybeneficiaryoftheVIEforaccountingpurposesandtheVIEasaPRCconsolidatedentityunderthegenerallyacceptedaccountingprinciplesintheUnitedStates(the“U.S.GAAP”).WeconsolidatethefinancialresultsoftheVIEanditssubsidiariesinourconsolidatedfinancialstatementsinaccordancewithU.S.GAAP.Neitherwenorourinvestorsownanyequityownershipin,directforeigninvestmentin,orcontrolthroughsuchownership/investmentoftheVIE.InvestorsmayneverholdequityinterestsintheChineseoperatingcompany.ThesecuritiesofferedinthisprospectussupplementaresecuritiesofourBritishVirginIslandsholdingcompanythatmaintainscontractualarrangementswiththeassociatedoperationcompanies.TheChineseregulatoryauthoritiescoulddisallowthisvariableinterestentitystructure,whichwouldlikelyresultinamaterialchangeinEZGO’soperationsprimarilythroughtheVIEanditssubsidiariesinChinaand/oramaterialchangeinthevalueofthesecuritiesEZGOisregisteringforsale,includingthatitcouldcausethevalueofitssecuritiestosignificantlydeclineorbecomeworthless.ForadescriptionofourcorporatestructureandcontractualarrangementswiththeVIE,see“Item3.KeyInformation—D.RiskFactors—RisksRelatedtoOurCorporateStructure”onpage19ofourAnnualReportonForm20-FforthefiscalyearendedSeptember30,2022(the“2022AnnualReport”),whichisincorporatedherein