TOP Financial Group Ltd (NASDAQ:TOP) shares are trading lower by 35.8% to $3.46 during Monday’s session after the company announced a definitive agreement with an investor for the purchase and sale of 2 million ordinary shares along with warrants for the same number of shares.
The purchase price is set at $2.50 per share, totaling approximately $5 million in gross proceeds. The warrants, priced at $2.75, will be exercisable immediately after issuance and will expire three months following the initial exercise date.
The offering is expected to close around February 14, pending customary closing ...