AGMH - AGM group slips 16% after equity offering

AGM Group Holdings (NASDAQ:AGMH) trades lower after the company commenced a $20M registered direct offering of shares with certain institutional investors. Closing date is December 14, 2021. The offering consists of the sale of 2,898,552 Class A ordinary shares at $6.90 per share. Concurrently in a private placement with the same investors, an investor will receive from the Company one-half unregistered warrant, for an aggregate of number of 1,449,276 warrants. The 3.5-year warrants will be exercisable immediately from the date of issuance and have an exercise price of $8.30. The purchase price for one ordinary share and one-half corresponding warrant is $6.90. AGMH -15.9% premarket to $8.56 Source: Press Release

For further details see:

AGM group slips 16% after equity offering