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• The list of investors includes Elial Schleider, Alexander Chernyilovsky, Leon Recanati, company CEO and founder Gal Friedman, Chairman of the Board Yona Fogel, Canadian investors, as well as the company's marketing and development managers

• Within 12 months of signing, the company will act to register its shares for trading on the NASDAQ stock exchange.

• As a reminder, Aquarius' innovative systems generate and supply clean electricity, enabling ultra-fast charging of electric vehicles in the growing EV market. The systems are smaller and more efficient than existing market solutions and are independent of the power grid.

TEL AVIV, Israel, Jan. 21, 2025 /PRNewswire/ -- Aquarius Engines (TASE: AQUA) (1170240) is pleased to announce the successful completion of a $10.285 million capital raise from a group of private investors, company management, and additional employees.

According to Gal Friedman, CEO of Aquarius, "I am delighted by the confidence shown by the company's management, board of directors, employees, and especially by a group of significant investors who believe in Aquarius' vision for the electric vehicle world. We have closed several significant pilots in the U.S. with leading entities in their fields, and we are very optimistic about the feedback we are receiving on our revolutionary system. All our pilot projects are paid, and the companies we collaborate with are significant and leading in their fields, planning joint evaluation and implementation of our system."

Investment Details:

1. Agreement with Mr. Elial Schleider:

   • Total investment of $8 million, with $3 million in exchange for 4,344,000 ordinary shares of the company.

   • In addition, Mr. Schleider will be allocated, free of charge, 2,172,000 Series A warrants, exercisable for up to 2,172,000 ordinary shares at an exercise price of $0.97 (3.5 ILS) per share, valid for 18 months from allocation.

   • Within 90 days of fulfilling the conditions precedent, Mr. Schleider will invest an additional $5 million in exchange for 5,171,429 ordinary shares.

   • If this additional investment is made, Mr. Schleider will be allocated, free of charge, 2,585,715 Series B warrants, exercisable for up to 2,585,715 ordinary shares at an exercise price of $1.1 (4 ILS) per share, valid for 18 months.

2. Agreement with Mr. Alexander Chernyilovsky:

   • Investment of $2 million in exchange for 2,896,000 ordinary shares of the company.

   • Additionally, Mr. Chernyilovsky will receive, free of charge, 1,448,000 warrants, exercisable for up to 1,448,000 ordinary shares at an exercise price of $0.97 (3.5 ILS) per share, valid for 18 months.

3. Investment Agreements with Three Key Stakeholders:

   • Insight Capital, Gal Friedman, and Yona Fogel will invest $100,000, $13,800, and $13,800 respectively, in exchange for 144,800, 20,000, and 20,000 ordinary shares at $0.69 (2.5 ILS) per share.

   • Each will also receive, free of charge, 72,400, 10,000, and 10,000 warrants respectively, exercisable for ordinary shares at $0.97 (3.5 ILS) per share, valid for 18 months.

4. Agreements with Four Additional Investors:

   • Combined investment of $37,000 in exchange for 54,000 ordinary shares at $0.69 (2.5 ILS) per share.

   • These investors will also receive, free of charge, 27,000 warrants, exercisable for up to 27,000 ordinary shares at $0.97 (3.5 ILS) per share, valid for 18 months.