CL Workshop Group signs ATM equity distribution deal for up to $200 million ADS offering
NWGL•CL Workshop Group entered an at-the-market sales agreement with Chaince Securities to sell up to $200 million of ADSs. Proceeds are earmarked for working capital, general corporate purposes and new product development.
1. Offering terms
Each ADS represents eight Class A ordinary shares. Chaince Securities will receive a commission of 3% of gross proceeds, and a non-accountable expense allowance is set at 1% of gross proceeds.
