HeartCore Enterprises has signed an agreement to sell a Go IPO client’s warrants to a Japanese financial institution, with the total contract value amounting to $9 million in cash. As part of HeartCore’s Go IPO business, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore receives an initial cash amount as initial fees, followed by warrants for common stock. By selling the warrants it received for one Go IPO client, HeartCore is set to realize the full $9 million payment in cash in the first quarter of 2024, significantly bolstering its cash reserves for the year ahead. This addition of capital strategically positions the company to pursue its M&A endeavors, with a keen focus on expanding its software business as well as driving global expansion initiatives. The Company intends to sell additional warrants as more Go IPO clients list on major U.S. exchanges, further enhancing its financial and market position.
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