One & one Green Technologies Secures $13M in Follow-on Offering from Institutional Investors, with Option for Additional $3M
One & one Green Technologies. INC (YDDL), a Philippines-based hazardous waste recycler, announced it has entered into a securities purchase agreement with two institutional investors for a follow-on offering. The company will sell 1,733,334 units at $7.50 per unit, expecting to generate gross proceeds of $13 million. This capital raise is intended to bolster the company's working capital and support general corporate purposes, enabling it to further its operations in sustainable resource management. The investors also hold an option to purchase an additional $3 million in units under the same terms for 45 days post-closing, potentially increasing the total proceeds.
Key Highlights
- One & one Green Technologies entered into a securities purchase agreement for the sale of 1,733,334 units.
- The units are being sold at a purchase price of $7.50 per unit, expecting gross proceeds of $13 million.
- Each unit comprises one Class A ordinary share and one warrant to purchase one and a half Class A Ordinary Shares.
- Investors have a 45-day right to purchase an additional $3 million of Units on the same terms.
- The net proceeds from the offering will be utilized for working capital and general corporate purposes.
- FT Global Capital, Inc. is acting as the exclusive placement agent for the offering.
Price Impact
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