Top Financial says all outstanding placement warrants are exercised on cashless basis, canceled
TOP•Share count and lock-up terms
The new shares carry a six-month lock-up from issuance, limiting trading or transfers.
Following the exercise, Top Financial said it has 608,527,305 Class A ordinary shares and 10,000,000 Class B ordinary shares outstanding.
Cashless exercise of placement warrants completed
Top Financial Group said it completed a full cashless exercise of placement warrants covering 428,862,444 Class A ordinary shares.
The company said it issued 360,534,431 restricted Class A ordinary shares, and all remaining warrants were canceled with no cash proceeds.
