7.5 C
Friday, March 31, 2023

Lizhi (NASDAQ: LIZI) Commences $30M Direct Offering

Lizhi Inc. (NASDAQ: LIZI) has launched the direct offering after signing an agreement with a certain institutional investor to buy $30,000,002 worth of its ADS and warrants in a registered direct offering. As per the agreement, Lizhi has asserted that it will sell 3,685,504 ADSs and warrants to buy 2,764,128 ADSs.

Furthermore, the firm has disclosed that the warrants will be practiced instantly after the date of grant. The firm has set the exercise price of $8.14. The permits will be expired five years from the date of grant. The buying price for one ADS and three-quarters equivalent warrant will be $8.14.

Shares of Lizhi Inc. plummeted by 1.33% as it lost -0.11 during the trading session of Thursday. LIZI has recorded the price of its share of $8.14 on Thursday’s session. In the past 52-weeks of the trading session, the share of the firm went up 317.44% and -51.40% from its 52-week low and high, respectively. LIZI has a total market capitalization of $470.82 million at the time of writing.

The benefit of Offering for the Firm

Lizhi Inc has disclosed that it will get the profit of $30,000,002 from the registered direct offering before subtracting the fees of placement agents and other projected offering expenditures. The firm is planning to utilize the profit for the growth of its online audio business in both international markets as well as in China. LIZI is also planning to use the profit for general business purposes.

More articles


Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.