Autozi stock soars after securing $90 million investment from CDIB

Investing.com -- Autozi Internet Technology (NASDAQ:AZI) stock surged 69% on Friday after the automotive aftermarket digital services provider announced a significant investment from strategic partner CDIB (Catalyst Digital Intelligence Business Ltd.).

CDIB has formally confirmed an initial equity investment of $90 million in Autozi at a price of $3.50 per share, following a previous letter of intent. The investment signals the beginning of a substantive strategic cooperation between the two companies.

The partnership will focus on multiple areas including digitalization of the automotive aftermarket, intelligent risk control, data asset operations, and international expansion. Both companies aim to enhance Autozi’s competitiveness in global capital markets and throughout the industry value chain.

"The formal confirmation of CDIB’s investment not only reflects strong recognition from international capital markets regarding our business model and growth prospects but also significantly strengthens our capital position," Autozi’s management stated. The company plans to use the capital infusion to support digital transformation initiatives across the automotive service chain, business expansion, and potential mergers and acquisitions.

The investment remains subject to customary closing conditions, including execution of definitive agreements and regulatory approvals. Autozi has committed to providing further updates as the process continues, in accordance with US securities market regulations.

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