Treasure Global Inc today announced the pricing of its upsized initial public offering of 2,000,000 shares of its common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $8.0 million before deducting underwriting discounts, commissions, and other offering expenses.
In addition, TGI has granted the underwriters a 45-day option to purchase up to an additional 300,000 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.
The shares are expected to begin trading on the Nasdaq Capital Market on August 11, 2022, under the ticker symbol “TGL” and the offering is expected to close on or about August 15, 2022, subject to satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering primarily to increase its capitalization and financial flexibility, in addition to working capital and general corporate purposes.
Meanwhile, EF Hutton is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-264364), was filed with the Securities and Exchange Commission (SEC) and was declared effective on August 10, 2022, and a registration statement on Form S-1MEF (File No. 333-266760), was filed with the SEC on the same date and became effective upon filing.
