Luokung Technology Corp. Announces $32.8 Million Registered Direct Offering
Sep 20, 2021•almost 4 years ago
Amount Raised
$32.8 Million
Description
Luokung Technology Corp. (the "Company" or "Luokung") (NASDAQ: LKCO), today announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of $32.8 million of ordinary shares at a price of $1.20 per share. The Company will issue a total of 27,333,300 ordinary shares to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants ("Warrants") for the purchase of up to 13,666,650 ordinary shares at an exercise price of $1.60 per share, which Warrants will have a term of three years from the date of issuance.
Funding Insights
Based on industry dataTech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech