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Autozi Internet Technology (Global) Ltd. Announces the Execution of Securities Purchase Agreement

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BEIJING, Jan. 31, 2025 /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 it entered into a definitive Securities Purchase Agreement (the “Agreement”) with an institutional investor (the “Buyer”) on January 27, 2025, pursuant to which the Company issued to the Buyer a senior unsecured convertible note (the “Initial Note”) and warrant to purchase additional senior unsecured convertible notes (the “Warrants” and together with the Initial Note, the “Notes”). The closing of the transaction contemplated by the Agreement occurred on January 27, 2025 (the “Closing Date”). The transaction will result in gross proceeds to the Company of $27.5 million. Proceeds from the transaction will enhance Autozi’s financial flexibility to support its strategic growth initiatives and expand operational capacity.

Dr. Houqi Zhang, Founder, Chairman, and Chief Executive Officer of Autozi, commented. “This financing represents a significant milestone for Autozi as we strengthen our foundation for sustainable growth and innovation. The capital raised will enable us to execute on three strategic priorities. First, we will actively pursue targeted mergers and acquisitions within China’s auto parts supply chain to achieve end-to-end coverage, enhancing our competitive edge and efficiency. Second, we are committed to building a cross-border supply chain platform, which will serve as the cornerstone for our global expansion and overseas market penetration. Third, we will further increase investment in R&D to advance our digital and intelligent platforms ensuring our technology remains at the forefront of industry trends. These initiatives reflect our vision to lead the automotive services sector through innovation, scale, and global reach, ultimately delivering sustainable value for our shareholders and partners.”

Under the Agreement, the Company will issue an additional Note in the principal amount of $500,000 on the effectiveness date of the registration statement registering the Class A ordinary shares of the Company (the “Ordinary Shares”) underlying the Notes. The Warrants are exercisable for additional Notes in an aggregate principal amount of up to $24,000,000 every 90 days following the Closing Date. The Notes are convertible into the Company’s Ordinary Shares at a conversion price determined based on the closing sale price of the Company’s Ordinary Shares at the time of conversion, subject to adjustment as provided in the Notes.

The Notes and Warrants were offered pursuant to exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506(b) of Regulation D. The Notes, Warrants, and underlying Ordinary Shares have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption. In connection with the transaction, the Company entered into a registration rights agreement, pursuant to which it has agreed to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) to register the resale of the Ordinary Shares issuable upon conversion of the Notes. The Company plans to file a Report of Foreign Private Issuer on Form 6-K with the SEC, which will include details of the Agreement, Notes, Warrants, and the Registration Rights Agreement.

Pryor Cashman LLP acted as legal counsel to the Buyer, and Sichenzia Ross Ference Carmel LLP served as U.S. legal counsel to the Company.

About Autozi Internet Technology (Global) Ltd.
Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. These forward-looking statements speak only as of the date of this announcement, and the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, as actual results may be impacted by a variety of factors, including without limitation, changes in macroeconomic conditions, industry dynamics, competitive landscape, regulatory requirements, the Company’s ability to successfully implement its growth strategies and effectively manage costs and operations, and unforeseen business challenges. The Company encourages investors to review other factors that may affect its future results in the Company’s registration statement, periodic reports, including its Annual Report on Form 20-F and Current Report on Form 6-K, and in its other filings with the SEC.

Contact Information
The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co

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MinIO Grows ARR by 149% as Demand for AI Data Storage Skyrockets

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Solidifies position as object storage of choice for AI amidst the rise of Agentic AI and the “great race” of AI model performance

REDWOOD CITY, Calif., Feb. 28, 2025 /PRNewswire/ — MinIO, the leader in high-performance object storage for the exabyte AI era, today announced it has achieved 149% Annual Recurring Revenue (ARR) growth over the last two years as MinIO AIStor meets demand for managing AI data at multi-exabyte scale. Spurred by AI adoption and the ensuing data input and output explosion, MinIO supports hundreds of customers across the globe with data footprints ranging from a couple of hundred petabytes to double digit exabytes as it continues to uniquely address the rapidly expanding data storage demands of the AI era.

MinIO is operating profitably and experiencing significant momentum as it prepares for further scale, as evidenced by the following highlights:

Record ARR growth with multiple 8 figure exabyte scale customer engagements closing in 2024 and continued traction with more than half of the Fortune 500.The debut of MinIO AIStor, designed specifically for modern AI workloads, builds upon its open source offering with more than 2 billion docker pulls and over 50,000 GitHub stars.New go-to-market (GTM) leadership including the addition of Erik Frieberg as Chief Marketing Officer (CMO) and Mahesh Patel as Chief Business Officer (CBO).Advancement of the MinIO ecosystem, including partnerships and collaborations with key players such as Arm, F5, VMWare and Intel.More than a half dozen awards in 2024 and an average 4.7 score review on Gartner Peer Insights, validating MinIO’s differentiation.

“We are at a pivotal moment in the AI revolution where data infrastructure must support exascale demands that the industry has never seen before,” said Garima Kapoor, co-CEO and co-founder, MinIO. “To put this into perspective, one exabyte of data is equivalent to the storage capacity of 7.8 million iPhones with 128 GB storage each. We’re currently the only software defined storage solution on the market that can deliver cost effective performance at scale for customers with petabyte and exabyte sized data footprints – and are confident this trend will continue to fuel aggressive business growth for MinIO in the future.”

According to IDC, the object storage market has been growing at a rate of around 17% annually in recent years, and is projected to exceed $20 billion by the end of 2025. This industry data reinforces MinIO’s recent research on AI and object storage trends where respondents indicated that 75% of their enterprise’s data will be in object storage over the next two years. “Support AI” was the most popular reason why IT leaders are adopting object storage, followed by performance and scalability. The addition of Frieberg as CMO and Patel as CBO, who bring a combined 50+ years of enterprise technology experience from companies such as VMware, MongoDB, Druva, and Pantheon Platform, will be critical to advancing MinIO’s mission of empowering enterprises to unlock the full potential of their data and AI investments.

MinIO is consistently recognized for its growth and impact on the infrastructure for AI market, as evidenced by inclusion in the InfraRed 100, CRN Cloud 100, and receipt of the Intellyx Digital Innovator Award. The company has also been recognized as a standout in the AI Breakthrough Awards, Data Breakthrough Awards, BigDATAwire Reader’s Choice, and Stratus Awards for its exceptional work on developing transformative solutions in cloud infrastructure and AI.

MinIO’s offering is rated 4.7 out of 5 stars on Gartner Peer Reviews, with most highlighting its superior scalability, cost-effectiveness, and ease of use. One reviewer said, “MinIO has been an excellent solution for our object storage needs. Its S3 compatibility makes integration seamless, and the platform is highly scalable, handling large datasets efficiently. The setup was easy, and the performance was impressive, even under heavy loads. MinIO’s open-source flexibility and responsive support team have made our experience smooth, and we highly recommend it to anyone needing a high-performance, scalable storage solution”

With increasing momentum, a strengthened GTM leadership team, rampant innovation that is raising the bar for AI storage infrastructure, and key collaborations with top AI ecosystem players, MinIO is uniquely poised to meet exabyte scale demands, solidifying its position as the object store of choice for AI workloads.

To learn more or request a demo, visit min.io.

About MinIO
MinIO is the leader in high-performance object storage for AI. With 2B+ Docker downloads 50k+ stars on GitHub, MinIO is used by more than half of the Fortune 500 to achieve performance at scale at a fraction of the cost compared to the public cloud providers. MinIO AIStor is uniquely designed to meet the flexibility and exascale requirements of AI, empowering organizations to fully capitalize on existing AI investments and address emerging infrastructure challenges while delivering continuous business value. Founded in November 2014 by industry visionaries AB Periasamy and Garima Kapoor, MinIO is the world’s fastest growing object store.

Media Contact: Tucker Hallowell, Inkhouse, minio@inkhouse.com 

Logo – https://mma.prnewswire.com/media/2360095/MinIO_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/minio-grows-arr-by-149-as-demand-for-ai-data-storage-skyrockets-302388570.html

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NHRA UNVEILS EXCITING OPPORTUNITIES FOR DIGITAL MEDIA AND CONTENT CREATORS FOR 2025 SEASON

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INDIANAPOLIS, Feb. 28, 2025 /PRNewswire/ — NHRA today announced a pair of exciting opportunities for digital media members and content creators heading into the 2025 Mission Foods Drag Racing Series season.

NHRA Unveils Exciting Opportunities for Digital Media and Content Creators for 2025 Season

Aiming to change the way influencers, content creators and digital media members experience drag racing, NHRA is working to expand its reach across social media platforms with its Cornwell Tools Burnout Box Content Creator Zone.

The Cornwell Tools Burnout Box Content Creator Zone is an exclusive on-track area that gives social media content creators an unmatched chance to create incredible content near the starting line. NHRA is inviting social media influencers with 25,000 or more followers on any platform to experience this VIP opportunity, helping NHRA reach new audiences.

Influencers across industries are encouraged to apply, allowing them to bring a fresh perspective to the high-powered thrill ride that is NHRA drag racing.

NHRA is also aiming to expand its reach in the digital media world, offering media members – regardless of medium – the opportunity to cover NHRA drag racing at any of its 20 national events across the country.

If it’s a podcast, blog, YouTube, TikTok page or any other form of online digital media or medium, NHRA is eager to provide an exhilarating backdrop to those media members, offering up-close access to the 11,000-horsepower, 330-mph nitro machines on the track and a diverse group of NHRA drivers and stars in the media center.

Digital media members interested in applying for media credentials – which includes access to the driver pits and media center – can apply for specific races by clicking here.

“Our goal is to provide digital media members and content creators an unparalleled platform to capture the unrivaled energy of NHRA events and connect with new audiences,” NHRA Vice President of Marketing and Communications Jeffrey Young said. “We’re dedicated to creating these opportunities for media members across all mediums, while the Cornwell Tools Burnout Box Creator Zone offers content creators an extraordinary chance to capture spectacular content not available anywhere else.”

Interested applicants can click here to apply for either of these opportunities. For more information on NHRA, including the 2025 schedule, visit www.NHRA.com.

About Mission Foods
MISSION®, owned by GRUMA, S.A.B. de C.V., is the world’s leading brand for tortillas and wraps. MISSION® is also globally renowned for flatbreads, dips, salsas and Mexican food products. With presence in over 112 countries, MISSION® products are suited to the lifestyles and the local tastes of each country. With innovation and customer needs in mind, MISSION® focuses on the highest quality, authentic flavors, and providing healthy options that families and friends can enjoy together. For more information, please visit https://www.missionfoods.com/

About NHRA
NHRA is the primary sanctioning body for the sport of drag racing in the United States. NHRA presents 20 national events featuring the NHRA Mission Foods Drag Racing Series and NHRA Lucas Oil Drag Racing Series, as well as the Congruity NHRA Pro Mod Drag Racing Series, NHRA Flexjet Factory Stock Showdown™, NHRA Holley EFI Factory X and Johnson’s Horsepowered Garage NHRA Mountain Motor Pro Stock at select national events. NHRA provides competition opportunities for drivers of all levels in the NHRA Summit Racing Series and NHRA Street Legal™. NHRA also offers the NHRA Jr. Street® program for teens and the Summit Racing Jr. Drag Racing League® for youth ages 5 to 17. With more than 100 Member Tracks, NHRA allows racers to compete at a variety of locations nationally and internationally. NHRA’s Youth and Education Services® (YES) Program reaches over 30,000 students annually to ignite their interest in automotive and racing related careers. NHRA’s streaming service, NHRA.tv®, allows fans to view all NHRA national events as well as exclusive features of the sport. In addition, NHRA owns and operates three racing facilities: Gainesville Raceway in Florida; Lucas Oil Indianapolis Raceway Park; and In-N-Out Burger Pomona Dragstrip in Southern California. For more information, log on to www.NHRA.com, or visit the official NHRA pages on Facebook, Instagram, Twitter, and YouTube.

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SOURCE NHRA

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LubTop2024 and ApexTire2024: The ‘Oscars’ of the Automotive Aftermarket Unite to Chart a New Path

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SHENZHEN, China, Feb. 28, 2025 /PRNewswire/ — In an era of rapid transformation, where the global automotive industry is accelerating towards intelligent and green technologies, what challenges and opportunities lie ahead for the aftermarket? How are the lubricant and tire industries, as the twin pillars of the aftermarket, adapting to the AI-driven and new energy wave? The answers were on display at the Shenzhen International Convention and Exhibition Center (Bao’an) on February 28, 2025, where the highly anticipated LubTop2024 China Lubricant Industry Annual Review and the ApexTire2024 China Tire Annual Selection converged in a landmark event.

Dual Launch Highlights Synergistic Potential

Themed “Intelligent Innovation and Green Navigation,” these dual industry benchmark events were jointly initiated by China Tire Business Network (tirechina.net) and China Lubricant Information Network (sinolub.com), with support from the 9th Auto Eco Expo and numerous authoritative institutions. The event drew top-tier executives from Fortune Global 500 companies, CEOs of listed firms, industry luminaries, award-winning business leaders, and international guests. Major media outlets, including Shenzhen Special Zone News and Shenzhen News Network, were also present, capturing the essence of this industry-defining moment.

The convergence of these two “Oscars” of the automotive aftermarket not only celebrated the year’s outstanding achievements but also underscored the powerful synergies unleashed through cross-industry collaboration and shared channels. Industry insiders highlighted that the coexistence of these events vividly demonstrated the potential of integrated development and shared growth in the face of emerging market dynamics.

AI Empowerment: A New Chapter for Industry Development

Amidst the rapid advancements in technology, artificial intelligence (AI) has emerged as a core driver of industrial transformation. At the event, the “AI+ Empowerment Action Declaration” was officially launched. Mr. Jianhua Shi, Deputy Secretary-General of the China EV100; Mr. Guoxu Chen, former doctoral supervisor at the Logistics Engineering College of the People’s Liberation Army; Mr. Zhenhui Zhang, Chairman of the Expert Committee of the National Lubricant Alliance of the China Petroleum and Chemical Industry Federation; Mr. Jianwei Wang, Chairman of the Event Organizing Committee; and brand representatives from the tire, lubricant, and automotive service sectors were all present to witness this significant moment. The consensus “Embrace AI, Navigate the Future” marks the official beginning of a new chapter of deep integration between the industry and AI, injecting strong momentum into the development of new-quality productivity.          

Setting Industry Benchmarks and Charting the Future

The LubTop Review, now in its 12th year, has long been hailed as the “Oscar” of the lubricant and automotive aftermarket. It is dedicated to summarizing the year’s achievements in brand, technology, and product innovation, while providing objective insights for downstream channels and consumers. This year’s event, with its rigorous six-month selection process, employed a comprehensive evaluation system across five dimensions: innovation drive, market synergy, user experience, industry leadership, and green development. The process included public voting, third-party technical assessments by SGS, market research, expert reviews, and media observations, culminating in the highly coveted “Top 10 Lubricants” and “Top 10 Tires” lists, featuring brands like ExxonMobil and Michelin.

Widespread Impact and Industry Recognition

The event’s influence was profound, with a total of over 8 million public votes cast and a staggering 98 million views across PC, social media, and matrix platforms. From B2B to B2C, the event left an indelible mark, earning a reputation for its strong credibility, extensive influence, interactive engagement, high acclaim, deep penetration, and broad dissemination.

A Future of Intelligent and Green Innovation

In his keynote address, Mr. Jianhua Shi, Deputy Secretary-General of the China EV100, emphasized the transformative impact of AI on the automotive industry. He highlighted that as AI becomes deeply integrated into automotive technologies, upgrades in intelligent driving assistance systems and the perfection of the Internet of Vehicles will not only enhance consumer experiences but also drive significant changes in the business models and technologies of the lubricant and tire industries. The future, he suggested, holds vast potential for both sectors.

The dual launch of LubTop2024 and ApexTire2024 is more than a celebration of excellence; it is a roadmap for the future. Against the backdrop of global industrial restructuring and the new energy revolution, the theme “Intelligent Innovation and Green Navigation” will guide the industry towards a future of sustainable development. As the automotive aftermarket embraces these changes, it is poised to contribute significantly to global sustainable mobility, offering a vision of intelligent and eco-friendly transportation for the years to come.

 

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SOURCE sinolub

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