GD Culture Group Issues 259.3 Million Shares at $0.021 Each
GD Culture Group announced that it has entered into definitive agreements with certain investors for the purchase and sale of 259,301,306 shares of common stock at a purchase price of 2.1c per share in a registered direct offering priced at-the-market under Nasdaq rules. The gross proceeds to the company of this offering are expected to be approximately $5.45M. The transaction is expected to close on or about June 24, subject to the satisfaction of customary closing conditions. Univest Securities is acting as the sole placement agent.
