The Malaysian e-commerce platform providing seamless payment solutions provider, Treasure Global Inc today announced the closing of its previously announced upsized initial public offering of 2,300,000 shares of its common stock, which included the full exercise of the underwriter’s over-allotment option, at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $9.2 million before deducting underwriting discounts, commissions, and other offering expenses.
The Company’s common stock began trading on the Nasdaq Capital Market on August 11, 2022, under the symbol “TGL”.
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.
EF Hutton acted as sole book-running manager for the offering.
