Swvl sells USD 1.5 million in ordinary shares in private placement

Swvl entered a securities purchase agreement for a USD 1.5 million minority equity investment in Ordinary Shares.

Closing is set for the “Closing Date,” with funds wired by the purchaser in exchange for newly issued shares delivered in DRS book-entry form.

The transaction includes a purchaser lock-up agreement as part of the deal documentation.

The company expects to file a Form D, pursue trading-market listing applications for the shares, and make required state securities filings.

No shareholder vote is required for the share issuance under the agreement’s terms.