By Chris Wack
Mercurity Fintech shares were up 22%, to $6.82, after the company priced a private investment in public equity financing.
The digital financial technology company on Wednesday said it entered into a securities purchase agreement and priced the PIPE offering of about 1.4 million shares to one institutional investor at $5.87 a share.
The financing is priced at-the-market under Nasdaq rules, representing 100% of the closing price of Mercurity's shares on Jan. 8, said the New York-based firm.
The offering resulted in proceeds of about $8 million before deduction of fees and offering expenses payable by Mercurity.
The PIPE is expected to close on or before Friday, said the company.
The company added that it closed a $10 million PIPE investment with the same institutional investor on Dec. 19 at $6.81 a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 15, 2025 12:46 ET (17:46 GMT)
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