One and One Green Technologies Sells 1,733,334 Units at $7.50 Each
One and one Green Technologies announced that it has entered into a securities purchase agreement with two institutional investors for the sale of 1,733,334 units in a follow-on offering of its securities at a purchase price of $7.50 per Unit, each unit consisting of one Class A ordinary share and one warrant to purchase one and a half Class A Ordinary Shares. The gross proceeds from the offering are expected to be $13M, before deducting placement agent fees and other offering expenses. In addition, the investors have the right, for a period of 45 days following the closing, to purchase an additional $3M of Units on the same terms and conditions. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about April 13, subject to the satisfaction of customary closing conditions. FT Global Capital is acting as the exclusive placement agent for the offering.
