Business
Golden Heaven Group Holdings Ltd. Secures Investment of US$25.2 Million and Enters Into Amendments to Outstanding Warrants
NANPING, China, Nov. 19, 2024 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. ("Golden Heaven" or the "Company") (Nasdaq: GDHG), an amusement park operator
About this update from Golden Heaven Group Holdings Ltd.
[{"type":"text","content":"NANPING, China, Nov. 19, 2024 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. (\"Golden Heaven\" or the \"Company\") (Nasdaq: GDHG), an amusement park operator in China, today announced that on November 18, 2024, the Company entered into a securities purchase agreement (the \"Securities Purchase Agreement\") with certain investors.\n\nPursuant to the Securities Purchase Agreement, the investors agreed to subscribe for and purchase from the Company, through a private placement, a total of 20,000,000 Class A Ordinary Shares for a total purchase price of US$25.2 million. In the event that the Company fails to meet certain operational and financial targets by September 30, 2027, the Company will issue up to 10,000,000 Class A Ordinary Shares to the investors for no additional consideration. The Company will use the proceeds from issuance of Class A Ordinary Shares for acquisition, upgrade, development, operation and maintenance of parks.\nAs the part of the Securities Purchase Agreement, the Company agreed to issue warrants (the \"Warrants\") to the investors granting the investors the right to purchase up to 40,000,000 Class A Ordinary Shares in aggregate at an exercise price of US$1.386. The Warrants will expire five (5) years after issuance. The Warrants contain standard adjustments to the exercise price. The transactions contemplated under the Securities Purchase Agreement are expected to close in November 2024.\nThe Company also announced that, on November 18, 2024, it entered into a series of amendments to warrant with existing holders of warrants, pursuant to which, (i) the exercise price were amended to be US$1.386, and (ii) the existing holders of warrants agreed to exercise their respective warrants in whole concurrently with execution of such amendment.\nAbout Golden Heaven Group Holdings Ltd.\nThrough its Chinese operating entities, the Company manages and operates amusement parks, water parks and complementary recreational facilities. The parks offer a broad selection of exhilarating and recreational experiences, including both thrilling and family-friendly rides, water attractions, gourmet festivals, circus performances, and high-tech facilities. For more information, please visit the Company's website at https://ir.jsyoule.com/. \nForward-Looking Statements\nThis press release contains \"forward-looking statements\"...