EpicQuest Education Group International Limited announced on May 30, 2025, the closing of a private placement offering on May 27, 2025. The offering generated gross proceeds of $1.8 million.
The private placement involved the sale of 4,500,000 ordinary shares and warrants to purchase 13,500,000 ordinary shares at a combined purchase price of $0.40 per share and accompanying warrants. The warrants are immediately exercisable at an exercise price of $0.48 per share and expire one year after the issuance date.
The company plans to use the proceeds from this offering for general corporate purposes, aiming to provide financial resources to meet its operating and growth goals. This capital infusion addresses liquidity needs but introduces potential dilution from the newly issued shares and warrants.
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