GD Culture Group announces registered direct offering of 810,277 shares at $1.144/share

GD Culture Group Ltd

Offering of 810,277 common shares at $1.144/share for gross proceeds of ~$927K; net proceeds ~$830K after fees and expenses.
Placement agent Univest Securities receives 4.0% cash fee and warrants to purchase 40,514 shares at $1.373/share (120% of offering price).
Company intends to use net proceeds for working capital and general corporate purposes.
Offering expected to close on or about March 26, 2024, subject to customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GD Culture Group Ltd entered into Placement Agency Agreement with Univest Securities, LLC valued at 810,277 shares of common stock at $1.144 per share; net proceeds approx. $830,000; placement agent f (effective 2024-03-22).

Action: entry
Agreement: equity purchase
Counterparty: Univest Securities, LLC
Value: 810,277 shares of common stock at $1.144 per share; net proceeds approx. $830,000; placement agent f
Effective: 2024-03-22

Exact text from the filing

On or about March 22, 2024, 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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GD Culture Group Ltd filing history →

Source: SEC EDGAR

accession 0001213900-24-026102

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