Business
Antelope Enterprise Announces $1.0 Million Follow-On Private Placement
JINJIANG, China , Jan. 17, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise" or the "Company"),
About this update from Antelope Enterprise Holdings Limited
[{"type":"text","content":"JINJIANG, China , Jan. 17, 2023 /PRNewswire/ -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (\"Antelope Enterprise\" or the \"Company\"), which operates KylinCloud, a leading social and livestreaming ecommerce platform with 200,000+ anchors and influencers, and a legacy ceramic tiles manufacturing business in China, today announced that it has conducted a follow-on private placement or PIPE (Private Investment in Public Equity) financing announced on January 13th, 2023, with an investment management firm based in New York. The PIPE financing is for the sale of 1,234,568 ordinary shares at a price per share of $0.81, the closing price of its ordinary shares on the Nasdaq Capital Market as of January 10, 2023. The gross proceeds of the private placement are $1.0 million, before deducting any fees or expenses.\n\n \n \n \n \n \n \n\n \nThe Company plans to use the net proceeds from the offering for the expansion of the Company's social ecommerce business and for general corporate purposes.\nWill Zhang, CEO of Antelope Enterprise, commented, \"This follow-on private placement is indicative of strong investor interest in the growth potential of KylinCloud, our social ecommerce business. The total financing of $2.3 million for our two recent PIPEs bolsters our balance sheet to accelerate the ongoing transformation of the Company into a leading pure play in the fast-growing social and livestreaming sector in China.\"\nThe securities being issued and sold in the private placement have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or any state's securities laws, and are being issued and sold pursuant to an exemption from registration provided for under the Securities Act. The securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Antelope Enterprise Holdings ...