Ryde Group inks at-the-market share sales deal for up to $96.4 million
RYDE•Ryde Group entered an at-the-market sales agreement with Arc Group Securities to sell Class A ordinary shares for up to $96.4 million in gross proceeds. The agent will receive 2.5% of proceeds from each sale, and Ryde plans to use the proceeds for working capital and general corporate purposes, including potential acquisitions or investments.
1. Share sale agreement
Ryde Group entered an at-the-market sales agreement with Arc Group Securities to sell Class A ordinary shares from time to time under its Form F-3 shelf registration statement. The program allows for up to $96.4 million in aggregate gross proceeds, with agent compensation set at 2.5% of proceeds from each sale. Ryde said it expects to use the proceeds for working capital and general corporate purposes, including potential acquisitions or investments.
