Autozi Internet Technology (Global) Ltd. Announces Waiver of IPO Lock-up Restriction for its Controlling Shareholder to Enable Share Transfer to Two Consulting Service Providers | PR Newswire [Video]

, /PRNewswire/ — Autozi Internet Technology (Global) Ltd. (“Autozi” or the “Company”) (Nasdaq: AZI), one of the leading and fast-growing lifecycle automotive service providers in China, today announced that Qirun Investment Co., Ltd. (“Qirun”), one of the Company’s principal shareholders wholly owned by Dr. Houqi Zhang, the Company’s founder and Chief Executive Officer, has entered into agreements to transfer 2,000,000 shares and 800,000 shares of Autozi’s common stock to Leisure Stream Limited and CG Summit Inc., respectively, in exchange for certain strategic consulting services for Qirun (the “Share Transfers”).

Kingswood Capital Partners, LLC (“Kingswood”), the underwriter of the Company’s recent initial public offering, is waiving a lock-up restriction on 2,800,000 shares held by Qirun to allow the Share Transfers, effective on December 3, 2024. On the same date, each of Leisure Stream Limited and CG Summit Inc. will enter into a lock-up agreement with Kingswood, substantially similar to the terms previously agreed …