Business
GD Culture Group Limited Announces Closing of Private Placement
NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI Catalysis”), today announced that the closing of its previously announced private placement (the “Offering”) on March 6, 2025 with certain investor for the purchase and sale of up to an aggregate of 1,115,600 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a purchase price of about $0.89
About this update from Gd Culture Group Limited
[{"type":"image","alt":"GD Culture Group Limited","displaySize":"","headline":null,"caption":"GD Culture Group Limited","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":245,"url":"https://media.zenfs.com/en/globenewswire.com/4f18ad1a177bf046fe12a1b754d330eb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/KqVmSeQDXfjnD.D_OR64_w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTM0MztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/4f18ad1a177bf046fe12a1b754d330eb","width":300,"height":245}},"lazy":false},{"type":"text","content":"NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI Catalysis”), today announced that the closing of its previously announced private placement (the “Offering”) on March 6, 2025 with certain investor for the purchase and sale of up to an aggregate of 1,115,600 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), at a purchase price of about $0.896 per share in the Offering.","length":528,"tagName":"p"},{"type":"text","content":"The aggregate gross proceeds to the Company were approximately $1.0 million.","length":76,"tagName":"p"},{"type":"text","content":"Univest Securities, LLC acted as the sole placement agent.","length":58,"tagName":"p"},{"type":"text","content":"The Shares were offered and sold to investors in the Offering pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, and the rules and regulations of the Securities and Exchange Commission (“SEC”) thereunder (collectively, the “Securities Act”), in reliance upon Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D promulgated by the Commission under the Securities Act (“Regulation D”). The Company has agreed to register the resale of the Shares on a registration statement within 60 days from the date of the Agreement.","length":589,"tagName":"p"},{"type":"text","content":"This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to...