CHENGDU, China - Antelope Enterprise Holdings Limited (NASDAQ:AEHL), a company specializing in livestreaming ecommerce through its Kylin Cloud platform, has finalized a $1.3 million offering of its Class A ordinary shares. The transaction, which took place last Thursday, involved a registered direct offering and a concurrent private placement of warrants to buy additional shares.
The shares were sold at $1.00 each, while the accompanying warrants, which are exercisable immediately at $1.10 per share, will expire five years from the date of issuance. The company indicated that the capital raised will be allocated for working capital and general corporate purposes.
Antelope Enterprise, which holds a majority 51% stake in Hainan Kylin Cloud Services Technology Co., Ltd, operates in the Chinese market with a network of over 800,000 hosts and influencers.
The offering was made under a shelf registration statement on Form F-3, declared effective by the Securities and Exchange Commission (SEC) on July 15, 2022. The final prospectus supplement regarding the offering was filed with the SEC on February 23, 2024.
This financial move comes at a time when Antelope Enterprise is aiming to bolster its position and working capital amidst the evolving ecommerce landscape in China.
The information for this article is based on a press release statement from Antelope Enterprise Holdings Limited.
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