Mingteng International Corporation Inc. has closed a registered direct offering and concurrent private placement, raising approximately $2.96 million in gross proceeds before fees and expenses. The offering consisted of 1.48 million Class A ordinary shares priced at $2.00 per share, along with pre-funded warrants to purchase Class A ordinary shares at a nominal exercise price of $0.00005 per share after most of the exercise price was pre-funded at closing. In the private placement, the company issued unregistered warrants to purchase up to 1.48 million Class A ordinary shares at an exercise price of $2.00 per share, exercisable immediately and expiring 18 months from issuance. The company intends to use the net proceeds for working capital and general corporate purposes. FT Global Capital, Inc. acted as the exclusive placement agent for the offering.
Mingteng International Corporation Inc. Ordinary SharesCompany raised $2.96 million through registered direct offering and private placement, providing working capital.
FT Global Capital acted as exclusive placement agent, earning fees from the offering.