Tianci International Prices 6,055,000 Units at $0.81 Each
Tianci International announced the pricing of its registered offering of 6,055,000 units, on a best efforts basis, at an offering price of $0.81 per Unit. Each Unit consists of one share of common stock of the Company, with a par value of $0.0001 per share, and one common warrant to purchase one share of common stock of the Company. The aggregate gross proceeds from the Offering are expected to be approximately $4.9M, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses. Each Common Warrant will be immediately exercisable upon issuance at an initial exercise price of $0.81, which is equal to the public offering price per Unit. The warrant exercise price is subject to customary anti-dilution adjustments in connection with share splits, share combinations, dividend distributions, subsequent equity sale and other corporate restructurings. The warrants will expire on the third anniversary of the issuance date. The closing of the Offering is currently expected to take place on June 17, subject to the satisfaction of customary closing conditions set forth in the Securities Purchase Agreements and related transaction documents. Maxim Group is acting as the sole placement agent for the Offering.