Antelope Enterprise Holdings Ltd (NASDAQ:AEHL) continues to trade sharply lower in the pre-market session after falling about 10% in yesterday’s trading session. The stock is under pressure as the priced its offerings.
Major Trigger:
Antelope Enterprise Holdings Ltd. Announces Pricing of Registered Direct Offering
Key Highlights:
- announced that it has entered into definitive agreements with certain institutional investors for a registered direct offering of securities with gross proceeds of $3,180,295, before payment of commissions and expenses. The closing of the offering is expected to take place on or about June 14, 2021, subject to the satisfaction of customary closing conditions.
- In connection with the offering, the Company will issue 913,875 registered common shares at a purchase price of $3.48 per share. Concurrently in a private placement, for each common share purchased by an investor, such investor will receive from the Company an unregistered warrant to purchase one common share. The warrants have an exercise price of $3.42 per share, will be exercisable on the date of issuance, and will expire five years from the date of issuance.
- The Company plans to use the net proceeds from the offering for general corporate and working capital purposes.
- Dawson James Securities, Inc. is acting as the sole placement agent in connection with the offering.
Market Reaction
As of 7:01, AEHL is down 14.39% to $3.51 with 6K shares traded hands.
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