NFT Ltd. agrees to sell 80 million shares in $36 million private placement at $0.45 each
MI•NFT Ltd. agreed to sell 80 million Class A ordinary shares for $36 million, or $0.45 per share, in a private placement. It plans to use the proceeds for its NFT artwork trading platform, an AI robotics project, working capital and general corporate purposes.
1. Private placement terms
NFT Ltd. signed a securities purchase agreement for an unregistered private placement of 80 million Class A ordinary shares to non-U.S. investors under Regulation S or Section 4(a)(2). The shares will carry resale restrictions, with transfers limited unless registered or covered by an exemption. The closing is expected to occur electronically once conditions are satisfied or waived.
