Business
ATIF Holdings Limited Announces Closing of USD$4.0 Million Registered Direct Offering
SHENZHEN, China, Nov. 6, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a company providing business consulting and multimedia
About this update from Atif Holdings Limited
[{"type":"text","content":"SHENZHEN, China, Nov. 6, 2020 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the \"Company\"), a company providing business consulting and multimedia services in Asia, today announced that it has successfully closed the previously announced registered direct offering of 4,347,826 of its ordinary shares at a purchase price of USD$0.92 per share. The Company has also issued to the investors unregistered warrants to purchase up to an aggregate of 4,347,826 of its ordinary shares at an exercise price of USD $1.10 per share, subject to adjustment, in a concurrent private placement.\nThe gross proceeds from the offering were approximately USD$3.47 million, and will be used by the Company for working capital purposes, expanding existing businesses or acquiring or investing in businesses, debt reduction or debt refinancing, capital expenditures and other general corporate purposes.\nFT Global Capital is acting as the exclusive placement agent for the offering.\nThe ordinary shares described above (but not the warrants or the ordinary shares underlying the warrants) were offered and sold by the Company in a registered direct offering pursuant to a \"shelf\" registration statement on Form F-3 (Registration No. 333- 239131), including an accompanying prospectus, previously filed with, and declared effective by, the Securities and Exchange Commission (the \"SEC\") on September 21, 2020. The offering of the ordinary shares only was made by means of a prospectus supplement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. \nThe warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Act\"), and Regulation D promulgated thereunder and, along with the ordinary shares underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and the underlying ordinary shares 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 Act and such applicable state securities laws.\nThis press release shall not constitute an offer to sell or the solicitation of a...