Top Financial says all placement warrants are cashlessly exercised, issues 360,534,431 shares
TOP•Placement warrants fully exercised and canceled
Top Financial Group announced the full cashless exercise of placement warrants for up to 428,862,444 Class A ordinary shares.
The company said it issued 360,534,431 Class A ordinary shares upon exercise, and all remaining placement warrants were canceled.
No cash proceeds were received from the cashless exercise.
The newly issued shares are restricted securities subject to a six-month lock-up.
After the exercise, Top Financial said it had 608,527,305 Class A shares and 10,000,000 Class B shares outstanding.
