GD Culture Group closes $9.55M registered direct offering and private placement

GD Culture Group Ltd

Gross proceeds of ~$9.55M from 310,168 shares, pre-funded warrants for 844,351 shares, and warrants for 1,154,519 shares.
Net proceeds ~$8.53M after fees and expenses; intended for working capital and general corporate purposes.
Univest Securities acted as sole placement agent; warrants exercisable at $8.27 or $0.001 (pre-funded) over 5 years.
Registered direct offering used effective S-3 shelf; private placement exempt from registration under Section 4(a)(2)/Reg D.
Placement agent received 7% cash fee, 1% non-accountable expense allowance, and warrants for 115,452 shares at $9.924.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GD Culture Group Ltd entered into PIPE Securities Purchase Agreement with certain purchasers (effective 2023-05-01).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Effective: 2023-05-01

Exact text from the filing

are also sold to the Purchasers, pursuant to a private warrant securities purchase agreement, dated May 1, 2023 (the “PIPE Securities Purchase Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GD Culture Group Ltd entered into Placement Agency Agreement with Univest Securities, LLC (effective 2023-05-01).

Action: entry
Agreement: underwriting
Counterparty: Univest Securities, LLC
Effective: 2023-05-01

Exact text from the filing

On May 1, 2023, GD Culture Group Limited (the “Company”, “we”, “us” or “our”) entered into a placement agency agreement (the “Placement Agency Agreement”), with Univest Securities, LLC (the “Placement Agent” or “Univest”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GD Culture Group Ltd entered into RD Securities Purchase Agreement with certain purchasers (effective 2023-05-01).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Effective: 2023-05-01

Exact text from the filing

are sold to certain purchasers (the “Purchasers”), pursuant to a securities purchase agreement, dated May 1, 2023 (the “RD Securities Purchase Agreement”).

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

GD Culture Group Ltd filing history →

Source: SEC EDGAR

accession 0001213900-23-036462

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