Corporate ActionJun 18, 2026, 04:17 PM
Mingteng International Raises $2.96M in Registered Direct Offering
AI Summary
Mingteng International Corporation Inc. announced the closing of a registered direct offering and concurrent private placement, raising approximately $2.96 million in gross proceeds. The offering included 457,355 Class A ordinary shares and pre-funded warrants to purchase 1,022,645 Class A ordinary shares, both priced at $2.00 per share equivalent. In the private placement, the company issued unregistered warrants to purchase up to 1,480,000 Class A ordinary shares. The net proceeds are intended for working capital and general corporate purposes.
Key Highlights
- Company raised approximately $2.96 million in gross proceeds from the offerings.
- Issued 457,355 Class A ordinary shares at a purchase price of $2.00 per share.
- Issued pre-funded warrants to purchase 1,022,645 Class A ordinary shares at $1.99995 per warrant.
- Concurrently issued unregistered private warrants for 1,480,000 Class A ordinary shares at an exercise price of $2.00.
- Net proceeds from the offerings will be used for working capital and general corporate purposes.
- FT Global Capital, Inc. served as the exclusive placement agent for the offerings.
- Placement agent received a 7.0% cash fee, expense reimbursement, and warrants for 111,000 Class A shares.
Price Impact
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