Happiness Development Raises $6.7M Via Equity Offering

by Shivani Kumaresan, Benzinga Staff Writer

March 11, 2022 12:24 PM | 1 min read | Make a Comment

Happiness Development Group Ltd HAPP has entered into a securities purchase agreement with certain non-U.S. strategic investors for a registered direct placement of about $6.7 million.
Under the agreement, the company will sell 19.2 million Class A ordinary shares at a per-share purchase price of $0.35.
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The company intends to use the gross proceeds in developing its auto business under the brand of "Taochejun" as well as for working capital and general corporate purposes.
Price Action: HAPP shares are trading lower by 14.9% at $0.31 on the last check Friday.