Treasure Global prices 26M shares at 10c in underwritten public offering

Treasure Global announced the pricing of its underwritten public offering of 26,014,000 shares of common stock, par value $0.00001 per share, at a public offering price of $0.10 per share, and 14,000,000 pre-funded warrants, each with a right to purchase one share of Common Stock at a public offering price of $0.0999 per Pre-Funded Warrant, for aggregate gross proceeds of approximately $4.0 million, prior to deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 6,002,100 shares of Common Stock at the public offering price per Share and/or pre-funded warrants in lieu thereof at the public offering price per Pre-Funded Warrant, less the underwriting discounts to cover over-allotments, if any. The offering is expected to close on November 30, 2023, subject to satisfaction of customary closing conditions. EF Hutton, division of Benchmark Investments, LLC, is acting as the lead book-running manager for the offering.