AGMH - AGM plunges on pricing $20M stock offering

AGM (NASDAQ:AGMH) trades 19.3% down premarket after it entered into a securities purchase agreement with certain institutional investors for a registered direct offering of $20M of its Class A ordinary shares. Offer consists of 2.9M Class A ordinary shares at $6.9/Class A ordinary share; investor will also receive one-half unregistered warrant, for 1.45M warrants. The 3.5-year warrants will be exercisable immediately from issuance date and have an exercise price of $8.30; purchase price for one share and one-half corresponding warrant is $6.90. Offer closing is expected on or about Dec.14.

For further details see:

AGM plunges on pricing $20M stock offering