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Borqs Technologies, Inc. (BRQS)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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0.8570+0.0351 (+4.27%)
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Previous Close0.8219
Open0.8300
Bid0.8568 x 1800
Ask0.8600 x 36200
Day's Range0.8201 - 0.8882
52 Week Range0.8100 - 3.3500
Volume3,072,139
Avg. Volume5,494,266
Market Cap76.587M
Beta (5Y Monthly)1.96
PE Ratio (TTM)N/A
EPS (TTM)-0.7980
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est12.00
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  • Borqs Raises $23M Via Institutional Debt For Order Procurement, 5G Project Investment
    Benzinga

    Borqs Raises $23M Via Institutional Debt For Order Procurement, 5G Project Investment

    Borqs Technologies Inc (NASDAQ: BRQS) raised million from the sale of two-year 8% convertible notes of $15.3 million to institutional and individual investors as of May 5, 2021, and $7.7 million to the same investors in February and April. The conversion price of $0.972 per share was 90% of the closing price on the day effectiveness of registration declaration. Borqs also issued 11.7 million five-year warrants and 2.5 million five-year warrants with an exercise price of $2.222 and $1.540 per share. The offering proceeds will be utilized to procure orders from its existing and new customers this year, next-generation 5G product development, and investment into the Borqs Huzhou 5G Project for an R&D center and manufacturing facilities to be completed by the second calendar quarter of 2021. Price action: BRQS shares traded lower by 3.69% at $0.8995 on the last check Monday. See more from BenzingaClick here for options trades from BenzingaCerence Beats On Q2 Earnings, Raises FY21 GuidanceWeibo Shares Lose Steam Despite Q1 Earnings Beat, Robust Q2 Guidance As Monthly Active Users Fall 4%© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • GlobeNewswire

    Borqs Technologies Completes $23 Million Private Placement to Support Growth

    SANTA CLARA, Calif., May 07, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), reported today that the Company has completed sales of $15.3 million in convertible notes to institutional and individual investors as of May 5, 2021, which in addition to $7.7 million sold to the same investors in February and April, totaled $23 million. The notes have a two-year term and an annual interest rate of 8%. The conversion price was reset to $0.972 per share, which was 90% of the closing price on the day effectiveness of registration was declared. The Company also issued 11,695,906 five-year warrants with an exercise price of $2.222 per share and 2,521,008 five-year warrants with an exercise price of $1.540 per share. The shares underlying the notes and warrants were registered for resale in the Company’s registration statement on Form F-1. Proceeds will be used for the procurement of orders the Company expects to receive from its existing customers and new customers this year and also for development of the next generation 5G products. The Company is experiencing a recovery of business activities in 2021 from the COVID-19 effected levels of 2020, and is engaging new customers. The proceeds will also be used to invest into the Borqs “Huzhou 5G Project” for a R&D center and manufacturing facilities to be completed within the second calendar quarter of 2021. About Borqs Technologies, Inc.Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products for phones and hotspots. Forward-Looking Statements and Additional InformationThis press release may include “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including expected use of proceeds. The reader is also advised to refer to the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Contact: Sandra DouVP of Corporate FinanceBorqs Technologies, Inc.sandra.dou@borqs.net www.borqs.com

  • GlobeNewswire

    Borqs Technologies Began Construction of R&D and Manufacturing Facilities at the 5G Industrial Park Project in Huzhou, China

    SANTA CLARA, Calif., May 05, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, “Borqs”, or the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has started construction with matching funds from the Huzhou South Taihu New Development Authorities 5G Industrial Park Project (the “Huzhou 5G Project”) for a R&D center and manufacturing facilities to be completed within the second calendar quarter of 2021. Construction and renovation activities which began in January 2021 kicked off the first phase of cooperation between Borqs and the Huzhou 5G Project that was signed on November 28 last year, in which the Company will be provided a rent-free facility of 5,500 sq.mtr. for 2.5 years. Borqs will recruit engineers and technicians for the facilities beginning in June 2021. Once completed, the Company will aim to reduce operational costs by gradually bringing in-house at Huzhou manufacturing activities that are currently outsourced. About Huzhou South Taihu New Area of Zhejiang province, ChinaThe South Taihu New Area of Huzhou City was officially established on June 2, 2019 and is one of the four new areas established by the provincial government. It is located in the northern part of Zhejiang Province at the south shore of the beautiful Taihu Lake, with a total planning area of 225 square kilometers. Accessible by high speed railway and five express highways, the area is also connected with the inland water transportation channels in China. There are four international airports around the new area, including Hongqiao and Pudong in Shanghai, Xiaoshan in Hangzhou and Lukou in Nanjing. About Borqs Technologies, Inc.Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products for phones and hotspots. Forward-Looking Statements and Additional Information This press release includes “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the Company will not complete the cooperation as described or may not receive actual orders in any amounts expected, and the negative impact of the coronavirus on the Company’s supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Contact: Sandra DouVice President of Corporate FinanceBorqs Technologies, Inc.sandra.dou@borqs.netwww.borqs.com