Park Ha Raises $2M in Registered Direct Offering at $1.50
BYAH•Park Ha Biological Technology sold 1,133,332 Class A shares and 200,000 pre-funded warrants at $1.50 each in a registered direct offering to raise $2.0 million. The company plans to deploy net proceeds for general corporate and working capital purposes, bolstering its liquidity.
1. Offering Details
Park Ha Biological Technology entered into a securities purchase agreement for a registered direct offering of 1,133,332 Class A ordinary shares and pre-funded warrants exercisable for 200,000 shares at a combined purchase price of $1.50 per share and warrant, generating approximately $2.0 million in gross proceeds.
2. Use of Proceeds
The company intends to use the net proceeds from the offering for general corporate and working capital purposes, enhancing its cash runway to support ongoing operations, potential store expansion, and product development initiatives.
3. Closing and Agent
The offering is expected to close on or about June 15, subject to customary closing conditions, under a shelf registration statement declared effective on June 8; D. Boral Capital LLC is acting as sole placement agent.
4. Registration Details
Securities are being offered under an effective Form F-3 shelf registration, with a prospectus supplement and accompanying prospectus to be filed and available on the SEC’s website prior to the closing.
