Treasure Global Inc. (NASDAQ:TGL) shares are trading lower on Wednesday after the company announced a $2.5 million registered direct offering of 250,000 shares.
What To Know: Treasure Global said it entered into a securities purchase agreement with institutional investors for the sale of 250,000 shares of common stock in a registered direct offering, raising gross proceeds of $2.5 million before commissions and expenses.
The offering is expected to close on or about Dec. 11, subject to customary conditions.
D. Boral Capital is serving as the exclusive placement agent. Treasure Global said the offering was conducted under its shelf registration statement, which became effective in March 2024. A final prospectus supplement will be filed with the SEC.
The company noted the press release does not constitute an offer to sell or solicit an offer to buy securities in any jurisdiction where such activity would be unlawful.
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TGL Price Action: Treasure Global shares closed Wednesday 40.01% lower at $9,43, according to data from Benzinga Pro.
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