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SOS Ltd. Announces Pricing of $86.0 Million Registered Direct Offering Priced At-The-Market

SOS Limited, an emerging blockchain-based and big data-driven marketing solution provider announced that it has entered into a securities purchase agreement with certain accredited investors to purchase $86,000,000 worth of its American Depositary Shares (ADS) and warrants in a registered direct offering priced at-the-market under the NYSE rules.

Under the terms of the securities purchase agreement, the Company has agreed to sell 8,600,000 ADSs and warrants to purchase 4,300,000 ADS. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $10.00. The warrants will expire five years from the date of issuance. The purchase price for one ADS and one corresponding warrant will be $10.00. The gross proceeds to the Company from the registered direct offering are estimated to be $86,000,000 before deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering is expected to close on or about February 22, 2021, subject to the satisfaction of customary closing conditions.

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The Company intends to use the proceeds from the offering to develop its recently launched cloud cryptocurrency mining and cryptocurrency security and insurance business as well as for working capital and general corporate use.

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Maxim Group LLC is acting as sole placement agent in connection with this offering.

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The securities described above are being offered by the Company pursuant to a shelf registration statement on Form F-3, as amended (File No.: 333-252279) previously filed with the Securities and Exchange Commission (the SEC) , and declared effective on February 8, 2021 and an additional registration statement pursuant to Rule 462(b) under the Securities Act of 1933, as amended. A prospectus supplement related to the offering will be, filed with the SEC and available on the SEC’s website. Copies of the prospectus supplement relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, by telephone: at (212) 895-3500.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

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