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KNDI > SEC Filings for KNDI > Form 8-K/A on 20-Mar-2014All Recent SEC Filings

Show all filings for KANDI TECHNOLOGIES GROUP, INC.

Form 8-K/A for KANDI TECHNOLOGIES GROUP, INC.


20-Mar-2014

Entry into a Material Definitive Agreement, Financial Statements


Item 1.01 Entry into a Material Definitive Agreement.

As disclosed in Kandi Technologies Group, Inc.'s (the "Company") Current Report on Form 8-K filed with the Securities and Exchange Commission on March 19, 2014, the Company entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain purchasers identified on the signature pages thereto (the "Buyers") pursuant to which the Company will sell to the Buyers, in a registered direct offering, an aggregate of 606,000 shares (the "Shares") of common stock, par value $0.001 per share ("Common Stock"), at a negotiated purchase price of $18.24 per share, for aggregate gross proceeds to the Company of approximately $11,053,440, before deducting fees to the placement agent and other estimated offering expenses payable by the Company. As part of the transaction, the Buyers will also receive 90,900 warrants for the purchase of up to 90,900 shares of our Common Stock at an exercise price of $22.80 per share (the "Warrants"). The Warrants have a term of eighteen months and are exercisable by the holders at any time after the date of issuance.

The Shares, the Warrants and the Common Stock issuable upon exercise of the Warrants are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission on April 19, 2013 and was declared effective on May 23, 2013 (File No. 333-188039). A prospectus supplement was filed with the Securities and Exchange Commission on March 19, 2014.

This Amendment No. 1 to Form 8-K is filed in order to file the legal opinion of McKenna Long & Aldridge LLP relating to the legality of the issuance and sale of the Common Shares, the Warrants and the Common Stock issuable upon exercise of the Warrants in the offering, which is attached as Exhibit 5.1 hereto.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Exhibit Title or Description
5.1 Opinion of McKenna Long & Aldridge LLP
23.1 Consent of McKenna Long & Aldridge LLP (included in Exhibit 5.1)


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