Nova LifeStyle, Inc. announced the closing of its best-efforts public offering on September 4, 2025, raising approximately $9.0 million in gross proceeds. The offering consisted of 9,836,054 shares of common stock and 19,672,108 warrants to purchase common stock. Each share of common stock was sold together with two warrants.
The securities were priced at $0.915 per share and accompanying warrants. Each warrant is immediately exercisable at an exercise price of $1.098 per share, representing 120% of the offering price, and will expire on the fifth anniversary of the issuance date. American Trust Investment Services, Inc. served as the exclusive placement agent for this offering.
The company intends to allocate the net proceeds from this offering towards several key areas. These include bolstering working capital, funding marketing expenditures, repaying certain short-term debt obligations, and making necessary capital expenditures. This capital infusion is critical for supporting Nova LifeStyle's ongoing operations and strategic growth initiatives.
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