Tianci International closes $4.9M public offering of units and pre-funded units at $0.81/unit
Tianci International, Inc.
- Gross proceeds of ~$4.9M from offering of 4,055,000 units and 2,000,000 pre-funded units at $0.81/unit.
- Each unit includes one share (or pre-funded warrant) plus one common warrant exercisable at $0.81 for three years.
- Net proceeds for working capital, general corporate purposes, product development, and production capacity expansion.
- Placement agent Maxim Group LLC received 7% cash fee and 302,750 warrant shares at $0.81.
- Lock-up for directors/officers for 90 days; 30-day equity issuance standstill and 3-month ban on variable rate deals.