Haoxi Health Technology Enters $6.5M Securities Agreement with Investors
Haoxi Health Technology announced that it has entered into a definitive agreement with certain investors for the purchase and sale of an aggregate of approximately $6.5M of the company's securities, including 9M Class A ordinary shares, par value $0.0025 per share and 16,999,998 pre-funded warrants, at a purchase price of 25c per share in a registered direct offering. The purchase price for the pre-funded warrants is identical to the purchase price for shares, less the exercise price of $0.0026 per share. Each pre-funded warrant is exercisable to purchase 10.355 shares. The aggregate gross proceeds to the company of this offering are expected to be approximately $6.5M, before deducting placement agent commissions and other offering expenses. The transaction is expected to close on or about May 12, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from this offering for working capital and general corporate purposes. Univest Securities is acting as the sole placement agent.
