Treasure Global Inc Announces Pricing of $4.0 Million Underwritten Public Offering
November 29 2023 - 9:00AM
Treasure Global Inc (NASDAQ: TGL) (“TGL” or the “Company”), a
leading innovative technology solutions provider, today announced
the pricing of its underwritten public offering of 26,014,000
shares (the “Shares”) of common stock, par value $0.00001 per share
(“Common Stock”), at a public offering price of $0.10 per share,
and 14,000,000 pre-funded warrants (the “Pre-Funded Warrants”),
each with a right to purchase one share of Common Stock at a public
offering price of $0.0999 per Pre-Funded Warrant, for aggregate
gross proceeds of approximately $4.0 million, prior to deducting
underwriting discounts and other offering expenses. In addition,
the Company has granted the underwriters a 45-day option to
purchase up to an additional 6,002,100 shares of Common Stock at
the public offering price per Share and/or pre-funded warrants in
lieu thereof at the public offering price per Pre-Funded Warrant,
less the underwriting discounts to cover over-allotments, if any.
The offering is expected to close on November 30, 2023, subject to
satisfaction of customary closing conditions.
EF Hutton, division of Benchmark Investments,
LLC, is acting as the lead book-running manager for the
offering.
The Shares and the Pre-Funded Warrants and the
over-allotment option securities, if any, are being offered by the
Company pursuant to a registration statement on Form S-1, as
amended (File No. No. 333-275411), which was filed with the U.S.
Securities and Exchange Commission (SEC) and declared effective by
the SEC on November 13, 2023, and the accompanying preliminary
prospectus contained therein. A final prospectus relating to the
offering will be filed with the SEC.
Copies of the preliminary prospectus and the
final prospectus, when available, relating to this offering may be
obtained on the SEC’s website at www.sec.gov or by contacting EF
Hutton, division of Benchmark Investments, LLC Attention: Syndicate
Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by
email at syndicate@efhuttongroup.com, or by telephone at (212)
404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Treasure Global Inc
Treasure Global is a Malaysian solutions
provider developing innovative technology platforms. Treasure
Global has developed two technology solutions: the ZCITY App, a
unique digital ecosystem that transforms and simplifies the
e-payment experience for consumers, while simultaneously allowing
them to earn rewards; and TAZTE, a digital F&B management
system providing merchants with a one-stop management and automated
solution to digitalize their businesses. Treasure Global also acts
as a master franchiser in Southeast Asia for popular restaurant
chains, while providing them with the TAZTE solution. As of
November 6, 2023, ZCITY had over 2,660,000 registered users.
Forward-Looking Statements
This press release includes “forward-looking
statements” within the meaning of U.S. federal securities laws.
Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue” and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements involve significant
risks and uncertainties that could cause the actual results to
differ materially from the expected results and, consequently, you
should not rely on these forward-looking statements as predictions
of future events. These forward-looking statements and factors that
may cause such differences include, without limitation, the risks
disclosed in the Company’s Annual Report on Form 10-Q filed with
the SEC on November 14, 2023, and in the Company’s other filings
with the SEC. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Except as required by law, the Company disclaims any
obligation to update or publicly announce any revisions to any of
the forward-looking statements contained in this press release.
For further information, please contact:
U.S. Investor ContactPhill CarlsonKCSA
Strategic Communicationsir_us@treasuregroup.co
Malaysian Investor
Contactsir_my@treasuregroup.co
Media ContactSue Chuah, Chief Marketing
OfficerTreasure Global Incmediacontact@treasuregroup.co
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