TOP Financial Group Limited has closed its previously announced private placement, raising $80 million in gross proceeds. The company issued 214,431,222 units at $0.37308 per unit, each consisting of one Class A ordinary share and two warrants to purchase additional Class A ordinary shares. The warrants are exercisable immediately at $0.4477 per share and expire on July 9, 2029. Following this placement and a prior registered direct offering, TOP now has 247,984,676 Class A ordinary shares and 10,000,000 Class B ordinary shares outstanding. The net proceeds will be used for general working capital and corporate purposes.
Zhong Yang Financial Group Limited Ordinary SharesCompany closed $80M private placement, raising capital for working capital and corporate purposes.