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NEWS! Ouch! Wonder how many shares MESSI is holding? Hehehe
$MGO Global (MGOL.US)$ MGO Global Announces Pricing of Upsized $6.0 Million Public Offering
Accesswire· 12 mins ago7mins
MIAMI, FL and LONDON, UK / ACCESSWIRE / December 23, 2024 / MGO Global Inc. (Nasdaq:MGOL), a digitally-native, lifestyle brand portfolio company, ("MGO," "MGO Global" or the "Company"), today announced the pricing of its public offering of 6,315,000 units at a public offering price of $0.95 per unit. Each unit consists of one share of common stock (or pre-funded warrant in lieu thereof) and one warrant to purchase one share of common stock.
The warrants, which are not exercisable unless and until approved by MGO stockholders, will be initially exercisable at a price of $1.425 per share, subject to standard adjustments for dividends, splits and similar events and also subject to adjustment upon reset on the Reset Date (as described in the warrants), subject to a floor price described therein. The warrants may also be exercised on an alternative cashless basis pursuant to which the holder may exchange each warrant for two shares of common stock. The warrants will become exercisable after notice is provided regarding stockholder approval and will expire on the earlier of (x) five years from the initial exercise date and (y) the closing date of MGO's publicly announced business combination with Heidmar, Inc. The shares of common stock (or pre-funded warrants) and accompanying warrants can only be purchased together in this public offering but will be issued separately and will be immediately separable upon issuance. Gross proceeds to the Company, before deducting placement agent's fees and other offering expenses, are expected to be $6.0 million. The offering is expected to close on December 24, 2024, subject to the satisfaction of customary closing conditions.
Accesswire· 12 mins ago7mins
MIAMI, FL and LONDON, UK / ACCESSWIRE / December 23, 2024 / MGO Global Inc. (Nasdaq:MGOL), a digitally-native, lifestyle brand portfolio company, ("MGO," "MGO Global" or the "Company"), today announced the pricing of its public offering of 6,315,000 units at a public offering price of $0.95 per unit. Each unit consists of one share of common stock (or pre-funded warrant in lieu thereof) and one warrant to purchase one share of common stock.
The warrants, which are not exercisable unless and until approved by MGO stockholders, will be initially exercisable at a price of $1.425 per share, subject to standard adjustments for dividends, splits and similar events and also subject to adjustment upon reset on the Reset Date (as described in the warrants), subject to a floor price described therein. The warrants may also be exercised on an alternative cashless basis pursuant to which the holder may exchange each warrant for two shares of common stock. The warrants will become exercisable after notice is provided regarding stockholder approval and will expire on the earlier of (x) five years from the initial exercise date and (y) the closing date of MGO's publicly announced business combination with Heidmar, Inc. The shares of common stock (or pre-funded warrants) and accompanying warrants can only be purchased together in this public offering but will be issued separately and will be immediately separable upon issuance. Gross proceeds to the Company, before deducting placement agent's fees and other offering expenses, are expected to be $6.0 million. The offering is expected to close on December 24, 2024, subject to the satisfaction of customary closing conditions.
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Prince9 : What does it mean? The price drops alot
Trytosaveabit OP Prince9 : They diluted the share count with the offering of new shares! Good for the company because they raise money without getting a loan! But bad for current shareholders because it makes everyone of the shares they currently hold worth a bit less!
Prince9 Trytosaveabit OP : Ouch… i suffered a great loss here… sad
Trytosaveabit OP Prince9 : Im sorry! That’s the bad part that can come by holding companies that need money! GL