HONG KONG, Sept. 07, 2023 (GLOBE NEWSWIRE) -- NASDAQ-listed, AGBA Group Holding Limited ("AGBA", "The Group"), the leading one-stop financial supermarket in Hong Kong, today announced a standby equity purchase agreement with Williamsburg Venture Holdings, LLC ("WVH") that will allow WVH to invest up to US$50 million of ordinary shares of AGBA over the next 36 months.
The equity facility will enhance AGBA Group's capitalization and financing flexibility, in addition to other alternatives available to us, to effectively execute our growth strategies to deliver value to all of our shareholders and other stakeholders.
Mr. Wing-Fai Ng, Group President, AGBA Group Holding Limited said "We are immensely grateful for the invaluable help and unwavering support that Ronald Glenn has generously provided us since AGBA went public in November. This transaction further extends our partnership with Ron. As a company with a sharp focus on creating shareholder value, we at AGBA will only raise capital to accelerate our growth, profitability, and competitive advantages. AGBA Group remain dedicated to delivering exceptional results and maximizing returns for our valued shareholders."
Mr. Ronald Glenn, Managing Member at Williamsburg Venture Holdings LLC said "The unwavering dedication and impressive accomplishments of the AGBA team since their public debut in November have been nothing short of remarkable. The synergies created through our partnership have already brought about positive outcomes, and I am confident that our collaboration will yield even greater achievements in the future. With their clear focus on creating shareholder value, I am excited to continue this partnership and look forward to the bright future that lies ahead for AGBA".
For more details, please refer to the Company's Report on Form 8-K filed with the ...