BIMI Announces Buyback of Warrants

NEW YORK, NY, Nov. 28, 2023 (GLOBE NEWSWIRE) -- BIMI International Medical Inc. (NASDAQ: BIMI, "BIMI"), a healthcare products and services provider, today announced its entry into material definitive agreements with certain of its warrant holders, pursuant to which BIMI agreed to buy back an aggregate of 7,066,913 warrants to purchase shares of common stock of the Company from these warrant holders. BIMI agreed to pay $0.30 for each share of common stock underlying the warrant, or an aggregate purchase price of $2,120,073.80 to the warrant holders within three (3) business days (for certain sellers), or two (2) months (for certain other sellers), of the signing of the agreements. The warrants will be deemed cancelled upon the receipt by the sellers of the purchase price.