SOS Limited (SOS) Prices 35.75M ADS Offering at $0.56/ADS

SOS Limited (NYSE: SOS), an emerging blockchain-based and big data-driven marketing solution provider, announced today that it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $20 million worth of its American Depositary Shares ("ADS") in a registered direct offering.

Under the terms of the securities purchase agreement, the Company has agreed to sell 35,750,000 ADSs at a purchase price of $0.56 per ADS. Each ADS represents ten (10) Class A Ordinary Shares of the Company. The ADSs are traded on the New York Stock Exchange under the symbol "SOS". In addition, effective on the closing date of this offering, the Company has agreed to voluntarily reduce the exercise price of the ADS purchase warrants issued on February 17, 2021, February 22, 2021, March 1, 2021 and April 1, 2021 to $0.56 per share.

The gross proceeds to the Company from the registered direct offering are estimated to be $20.02 million before deducting the placement agent's fees and other estimated offering expenses. The registered direct offering is expected to close on or about April 4, 2022, subject to the satisfaction of customary closing conditions.

The Company intends to use the proceeds from the offering to develop its business in North America as well as for working capital and general corporate use.

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

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form F-3ASR (File No.:333-253402) which became automatically effective upon filing with the U.S. Securities and Exchange Commission ("SEC") on February 23, 2021, EST time. A prospectus supplement related to the offering will be filed with the SEC and available on the SEC's website at http://www.sec.gov. Copies of the prospectus supplement relating to the offering may be obtained, when available, by contacting: Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, 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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