Treasure Global Inc Announces Pricing Of $4M Underwritten Public Offering
Portfolio Pulse from Benzinga Newsdesk
Treasure Global Inc (NASDAQ:TGL) has announced the pricing of a $4M underwritten public offering, consisting of 26,014,000 shares of common stock at $0.10 per share and 14,000,000 pre-funded warrants at $0.0999 each. The offering includes an over-allotment option for underwriters to purchase additional shares or warrants. The offering is expected to close on November 30, 2023, and is being managed by EF Hutton, a division of Benchmark Investments, LLC. The securities are offered under a registration statement declared effective by the SEC.
November 29, 2023 | 2:01 pm
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Treasure Global Inc has priced a public offering at $0.10 per share, aiming to raise $4M. The offering may dilute current shareholders but provides capital for the company.
The public offering is likely to have a dilutive effect on existing shares, which could lead to a short-term negative impact on the stock price. However, the capital raised could be beneficial for the company's growth and development in the long term.
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