AGBA Group Entered Into Term Sheets for US$6.2 Million Private Placement Offering
2023年11月9日 - 7:00AM
NASDAQ-listed, AGBA Group Holding Limited (“AGBA” or “the Company”)
the leading one-stop financial supermarket in Hong Kong entered
into term sheets for a private placement offering with an
institutional investor, AGBA’s Group President, Mr. Wing-Fai Ng and
AGBA’s management team. Based on the currently executed term
sheets, the contemplated placement will amount to US$6.2 million
(“Share Placement”).
The purchase price of the Share Placement will
be $0.70 per ordinary share of the Company and associated warrants.
The subscribers to the shares will receive one warrant for every
five shares subscribed. Each warrant is exercisable into one
ordinary share at $1.00 per share six months after the issuance of
the warrants.
The Share Placement represents a significant
milestone for the Company, as it will be executed at a substantial
premium to the Company’s current market price. This reflects the
strong confidence and value placed on the Company's prospects by
both external investors and the management team. The management
team, by investing their own capital in the Share Placement
alongside external investors, demonstrates their alignment with
shareholders' interests and their commitment to driving the
Company's success.
The primary objective of the Share Placement is
to fuel continued expansion of the Company and accelerate its path
to profitability. The Share Placement will not only fuel growth,
but also enhance the Company’s financial flexibility and enable it
to pursue strategic acquisitions to strengthen its market position.
Funds will further be utilized to invest in AGBA’s market leading
intermediary platform, ushering in a 'step change' in technological
capabilities.
The Share Placement will provide the Company’s
new investor with a very compelling entry valuation and an aligned
interest with all of the Company’s existing stakeholders to pursue
long-term term shareholder value. By widening the investor base,
AGBA will forge strong partnerships with individuals and
institutions who share its long-term vision for success.
Mr. Wing-Fai Ng, Group President, AGBA
Group Holding Limited said “I am extremely grateful that
an institutional investor and our top management team are joining
me in committing to the long-term success of AGBA Group. This
first round of equity capital raising at a premium above the
current market price demonstrates the conviction in our Company and
provides growth capital to capitalize on the expected economic
recovery in our core markets. Our primary focus is maximizing
shareholder value through rapid market share growth, innovation and
strategic initiatives.”
For more details, please refer to the Company's
Report on Form 8-K filed with the Securities and Exchange
Commission on November 8, 2023. The latest press release is
available on the company’s website, please visit
www.agba.com/ir
# # #
Safe Harbor Statement
This 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 to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the outcome of any
legal proceedings that may be instituted against us following the
consummation of the business combination; expectations regarding
our strategies and future financial performance, including its
future business plans or objectives, prospective performance and
opportunities and competitors, revenues, products, pricing,
operating expenses, market trends, liquidity, cash flows and uses
of cash, capital expenditures, and our ability to invest in growth
initiatives and pursue acquisition opportunities; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in Hong Kong and the international markets the Company
plans to serve and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the SEC, the length and severity of the recent coronavirus
outbreak, including its impacts across our business and operations.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release. Additional factors are discussed in the Company's
filings with the SEC, which are available for review at
www.sec.gov. The Company undertakes no obligation to publicly
revise these forward–looking statements to reflect events or
circumstances that arise after the date hereof.
About AGBA Group:
Established in 1993, AGBA Group Holding Limited
(NASDAQ: “AGBA”) is a leading one-stop financial supermarket based
in Hong Kong offering the broadest set of financial services and
healthcare products in the Guangdong-Hong Kong-Macao Greater Bay
Area (GBA) through a tech-led ecosystem, enabling clients to unlock
the choices that best suit their needs. Trusted by over 400,000
individual and corporate customers, the Group is organized into
four market-leading businesses: Platform Business, Distribution
Business, Healthcare Business, and Fintech Business.
For more information about AGBA, please visit
www.agba.com
Investor Relations and Media
Contact:
Ms. Bethany Laimedia@agba.com/ ir@agba.com+852 5529 4500 |
Social Media
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