Business
Oriental Culture Signs Securities Purchase Agreements to Raise Capital
HONG KONG, Dec. 8, 2021 /PRNewswire/ -- Oriental Culture Holding LTD. ("OCG" or the "Company") (NASDAQ: OCG), a leading online provider of collectibles and
About this update from Oriental Culture Holding Ltd
[{"type":"text","content":"HONG KONG, Dec. 8, 2021 /PRNewswire/ -- Oriental Culture Holding LTD. (\"OCG\" or the \"Company\") (NASDAQ: OCG), a leading online provider of collectibles and artwork e-commerce services, today announced it has entered into Securities Purchase Agreements (\"Agreements\") with two investors (\"Investors\") on December 7, 2021, pursuant to which the Company agreed to sell to the Investors in private placements of 600,000 ordinary shares (the \"Shares\") of the Company, par value $0.00005 per share, at a purchase price of $5.00 per share for an aggregate offering price of $3,000,000 (the \"Private Placements\"). In connection with offering, the Company has also agreed to issue the warrants to the Investors to purchase up to an aggregate of 600,000 ordinary shares at an exercise price of $6.00 per share (the \"Warrants\"). The Warrants have a term of one year and are exercisable by the holder at any time after the date of issuance. The Private Placements will be completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended.\nAbout Oriental Culture Holding LTD\nOriental Culture Holding LTD is an online provider of collectibles and artwork e-commerce services, which allow collectors, artists, art dealers and owners to access an art and collectible trading market with a wider range of collectible and artwork investors. Through its subsidiaries in Hong Kong, the Company provides trading facilitation for individual and institutional customers of all kinds of collectibles, artwork and certain commodities on its online platforms, as well as online and offline integrated marketing, storage and technical maintenance service to customers in China. For more information about the Company, please visit: www.ocgroup.hk.\nSafe Harbor Statement\nThis press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as \"may, \"will, \"intend,\" \"should,\" \"believe,\" \"expect,\" \"anticipate,\" \"project,\" \"estimate\" or similar expressions that do not relate solely ...