Neo-Concept raises $1.32 million in private placement
NCI•Neo-Concept International Group Holdings closed a private placement on October 26, raising gross proceeds of $1.32 million through the sale of 4.4 million Class A ordinary shares at $0.30 each.
1. Private placement details
The purchase agreement, dated October 22, covered 4.4 million Class A ordinary shares at $0.30 per share. The unregistered shares were sold exclusively offshore to non-U.S. investors under Regulation S, with a 40-day distribution compliance period. Winbull Securities International (Hong Kong) will receive a cash success fee equal to 2% of gross proceeds.
2. Use of proceeds
Neo-Concept intends to use the net proceeds for working capital and general corporate purposes.
