SOS Limited (SOS) Announces Pricing of $7.85 Million Public Offering

SOS Limited (NYSE: SOS) (the "Company" or "SOS"), a multifaceted company that engages in the blockchain and cryptocurrency operations and commodity trading, announced today that it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $7.85 million worth of its American Depositary Shares ("ADS") and warrants in a public offering.

Under the terms of the securities purchase agreement, the Company has agreed to sell 5,233,332 ADSs and warrants to purchase 10,466,664 ADSs. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.50. The warrants will expire five years from the date of issuance. The purchase price for one ADS and one corresponding warrant will be $1.50. The gross proceeds to the Company from the follow-on offering are estimated to be $7.85 million before deducting the placement agent's fees and other estimated offering expenses. The public offering is expected to close on or about March 15, 2024, subject to the satisfaction of customary closing conditions.

The Company intends to use the proceeds from the offering to develop its cloud cryptocurrency mining and cryptocurrency security and insurance business 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 registration statement on Form F-1, as amended, (File No.: 333-276006) (the "Registration Statement") which was declared effective by the Securities and Exchange Commission (the "SEC") on March 13, 2024, 9:00AM EST time. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the offering has been filed with the SEC and available on the SEC's website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, will be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

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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