TOP Financial Group to Raise $5 Million with Registered Direct Offering
Hong Kong-based online brokerage firm, TOP Financial Group Limited (NASDAQ: TOP), has recently announced a definitive agreement for a registered direct offering, with the goal of generating approximately $5 million in gross proceeds. The offering entails the sale of 2 million ordinary shares and accompanying warrants.
The closing of the transaction is expected to take place around February 14, 2024, pending customary closing conditions. Priced at $2.50 per share and accompanying warrant, the offering grants investors warrants exercisable at $2.75. These warrants can be exercised immediately following issuance and will expire three months from the initial exercise date.
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