MICT, Inc. (Nasdaq: MICT), today announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of 10,000,000 shares of common stock and 8,000,000 common stock purchase warrants at a combined purchase price of $2.50. The gross proceeds to MICT from this offering are expected to be approximately $25,000,000, before deducting placement agent fees and other estimated offering expenses. The Common Stock Purchase Warrants have a term of five years and an exercise price of $3.12 per share. The offering is expected to close on or about November 4, 2020, subject to customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

About MICT

MICT, Inc. (NasdaqCM: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd. and Micronet Ltd.. GFHI's versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and wealth management services and sales of insurance products in several high-growth foreign markets including Asia where GFH owns a substantial propriety database of users. Micronet operates in the growing telematics and commercial Mobile Resource Management (MRM) market, mainly in the United States and Europe. Micronet designs, develops, manufactures and sells mobile computing solutions that provide fleet operators and field workforces with computing solutions in challenging work environments.