Baosheng Media Secures Up to $30M Equity Investment

Key Highlights

• Baosheng Media Group Holdings Limited entered into a Securities Purchase Agreement with High West Partners LLC.
• The company may sell and issue up to US$30,000,000 of its ordinary shares to the Investor.
• Proceeds from the sales will be used for general corporate purposes, including working capital.
• Purchase prices are determined based on various volume weighted average price (VWAP) calculations.
• The company can terminate the Purchase Agreement at any time without cost or penalty.
• The Investor agreed not to engage in short-selling or hedging of the Ordinary Shares.
• A Registration Rights Agreement was also entered into in connection with the Purchase Agreement.