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Aeries Technology (AERT) just unveiled an announcement.
Aeries Technology, Inc. has struck a deal with an institutional accredited investor to issue over 2.2 million new Class A ordinary shares at $2.21 each, in a private placement aimed at raising approximately $4.75 million. The investor has the option to limit their ownership to 4.99% or 9.99% of the company’s outstanding shares post-transaction. The capital raised will be channeled towards general corporate needs and working capital after accounting for a 5% commission to a placement agent. This strategic financial move is set to bolster Aeries Technology’s market position and fuel its corporate initiatives.
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