Eshallgo (EHGO) said Monday it has struck a deal with an unnamed investor to issue convertible debentures in a total principal amount of up to $5 million.
The debentures will mature on Nov. 28, 2025, the company added.
Eshallgo said the initial closing of $1.5 million took place on Friday, while the second closing of $2 million will occur after it files an initial registration statement with the US Securities and Exchange Commission registering the resale of the class A ordinary shares upon conversion of the debentures.
The third closing of $1.5 million will take place after the registration statement is effective, it said.
Shares of the company rose more than 14% in recent Monday trading.
Price: 4.18, Change: +0.53, Percent Change: +14.52
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.