Treasure Global (NASDAQ:TGL) Enters Subscription Agreement for Common Stock Sale

Treasure Global Inc. recently disclosed a significant move in its financial operations through a subscription agreement for the sale of common stock. According to a Form 8-K filing dated November 27, 2024, the company finalized a subscription agreement with certain investors. Under this agreement, the investors committed to investing a total of $1,177,000.00 into Treasure Global for 3,566,668 shares of common stock priced at $0.33 per share.

The investment amount is set to become due and payable once the offered shares are registered under an effective Registration Statement lodged by the company with the Securities Exchange Commission. Investors are required to make the payment within seven days from the date of the Subscription Agreement. The anticipated closing date for the offering is November 29, 2024, subject to meeting customary closing conditions.

Treasure Global is gearing to utilize the net proceeds from this offering for general corporate purposes and working capital needs. The Subscription Agreement contains standard representations, warranties, and agreements by the company, along with specific conditions to closing, indemnification obligations, and other provisions for both parties involved.

The sale of the Offered Shares is being conducted under a prospectus supplement dated November 27, 2024, and accompanying base prospectus dated March 29, 2024. These documents are associated with the company’s effective registration statement on Form S-3 (Registration Statement No. 333-278171) initially filed with the Securities and Exchange Commission on March 22, 2024, and declared effective on March 29, 2024.

Furthermore, the filed Prospectus Supplement on November 27, 2024, under Registration Statement Form S-3 (File No. 333-278171), includes updated disclosures concerning the Company, particularly within the section labeled “Prospectus Supplement Summary-Recent Developments.” Additionally, associated exhibits such as an opinion of Sichenzia Ross Ference Carmel LLP (Exhibit 5.1) and consents from WWC, P.C. (Exhibit 5.1 and Exhibit 23.1) are also being submitted.

This endeavor signifies Treasure Global’s strategic financial move to bolster its operations and investments, setting the stage for potential growth in the foreseeable future.

The complete details of the Subscription Agreement can be found in Exhibit 10.1 of the Current Report on Form 8-K filed by the company.

This press release reflects the Company’s plans and activities as of the time of filing and does not constitute a solicitation or offer. Investors are advised to consult the official filings and agreements for comprehensive understanding.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Treasure Global’s 8K filing here.

About Treasure Global

Treasure Global Inc offers e-commerce activities through its platform. Its platform provides consumers and merchants instant rebates and affiliate cashback programs, while providing a seamless e-payment solution with rebates in both e-commerce and physical retailers/merchant settings. The company offers ZCITY App, a payment gateway platform.