Summary by Moomoo AI
Freight Technologies, Inc. (Freight Technologies), a company specializing in freight management services, has announced an at-the-market offering of its ordinary shares with a total aggregate offering price of up to $2,300,000. The shares will be sold through A.G.P./Alliance Global Partners, acting as the sales agent. The offering will be made pursuant to a Sales Agreement dated May 22, 2024. Freight Technologies' ordinary shares are traded on the Nasdaq Capital Market under the symbol 'FRGT.' The company's last reported sale price on Nasdaq was $0.73 per share as of May 21, 2024. The sales agent will receive a commission of 3.0% of the gross sales price for any shares sold under the agreement. The net proceeds from the sale of the ordinary shares will be used for general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
