Magic Empire Global closes $3 million registered direct offering

  • Magic Empire Global closed a registered direct offering of 2,678,572 units.
  • US$3 million was raised before commissions, expenses and warrant exercises.
  • Chaince Securities, LLC acted as Sole Placement Agent for the offering.

Magic Empire Global Limited (NASDAQ: MEGL) closed a registered direct offering of 2,678,572 units at US$1.12 each, generating approximately US$3 million in gross proceeds before placement commissions and other estimated expenses. Each unit includes one no-par-value Class A ordinary share and one warrant exercisable at US$1.12 per share from issuance through the first anniversary, with an alternative cashless exercise option covering up to nine Class A ordinary shares. The company plans to use net proceeds for working capital and general corporate purposes. Chaince Securities, LLC served as Sole Placement Agent. The offering was conducted under an effective Form F-3 registration statement filed with the SEC (U.S. securities regulator), and the final prospectus is available through the SEC and Chaince Securities. Magic Empire Global, established in 2016, provides corporate finance advisory and related services in Hong Kong. The company cautioned that its forward-looking statements are subject to risks and that actual results may differ materially from expectations.

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