Business
Treasure Global Inc Announces Closing of Upsized $9.2 Million Initial Public Offering, Nasdaq Listing, and Full Exercise of Underwriter’s Over-Allotment Option
NEW YORK, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Treasure Global Inc (Nasdaq: TGL) (“TGI”, or the “Company”), an innovative e-commerce platform providing seamless
About this update from Treasure Global Inc.
[{"type":"text","content":"NEW YORK, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Treasure Global Inc (Nasdaq: TGL) (“TGI”, or the “Company”), an innovative e-commerce platform providing seamless payment solutions and rewards programs, today announced the closing of its previously announced upsized initial public offering of 2,300,000 shares of its common stock, which included the full exercise of the underwriter’s over-allotment option, at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $9.2 million before deducting underwriting discounts, commissions, and other offering expenses. The Company’s common stock began trading on the Nasdaq Capital Market on August 11, 2022, under the symbol “TGL”. The Company intends to use the net proceeds from the offering primarily to increase its capitalization and financial flexibility, in addition to working capital and general corporate purposes. EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), acted as sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-264364), was filed with the Securities and Exchange Commission (\"SEC\") and was declared effective on August 10, 2022, and a registration statement on Form S-1MEF (File No. 333-266760), was filed with the SEC on the same date and became effective upon filing. A final prospectus relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the 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 registration or qualification under the securities laws of any such state or jurisdiction. About Treasure Global IncTGI is an innovative Malaysian e-commerce platform providing seamless payment solutions for consumers and merchants with instant rebates and affiliate cashback programs. On a mission to bring toge...