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An announcement from Ostin Technology Group Co., Ltd. ( (OST) ) is now available.
Ostin Technology Group Co., Ltd. announced on February 10, 2025, its entry into a securities purchase agreement to sell 965,513 Class A ordinary shares through a private investment in public equity (PIPE), priced at $1.45 each. This agreement includes a lock-up provision preventing further share issuance for 20 months post-closing, scheduled around February 18, 2025. Purchasers will receive warrants to buy additional shares, with the company expecting approximately $1.4 million in gross proceeds for working capital. Additionally, a loan agreement from December 2024 was assigned to the PIPE purchasers, who waived rights to debt repayment in exchange for shares.
More about Ostin Technology Group Co., Ltd.
Ostin Technology Group Co., Ltd. operates in the technology sector, primarily involved in the production and sale of Class A ordinary shares. The company is based in Nanjing, Jiangsu Province, China.
YTD Price Performance: 12.12%
Average Trading Volume: 823,123
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.21M
Find detailed analytics on OST stock on TipRanks’ Stock Analysis page.
