Addentax Group Corp. Announces $646,800 Private Placement Of Its Common Stock; Company Will Sell To Each Of The Investor 330,000 Shares Of Common Stock At A Purchase Price Of $0.98/Share
Portfolio Pulse from Benzinga Newsdesk
Addentax Group Corp. (ATXG) has announced a private placement of its common stock, selling 330,000 shares to each of two investors at $0.98 per share, totaling $646,800. The agreements include standard terms for such transactions.
April 29, 2024 | 3:52 pm
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Addentax Group Corp. is raising $646,800 through a private placement of its common stock, selling 330,000 shares at $0.98 each to two investors.
The private placement of shares by Addentax Group Corp. is likely to have a positive short-term impact on its stock price. This capital infusion can be seen as a vote of confidence by investors, potentially leading to increased investor interest and a positive market perception. However, the impact also depends on the market's view of the dilution effect of issuing new shares.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100