Swvl announces pricing of $4.7M private placement at $4.79 per share

Swvl (SWVL) Holdings announced its entry into a definitive agreement with certain investors, including several members of its board of directors, to purchase $4.7M of ordinary shares in a private placement, at a purchase price of $4.79 per share. The purchasers have agreed to lock up the securities purchased in the offering for a period of 6 months, and also to transfer less than 20 percent of the securities purchased for each 90-day period thereafter in an amount not more than 20 percent of the trading volume on the date of sale. The private placement is expected to close on or about November 18, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the private placement for working capital and general corporate purposes, including the expansion of its operations in the United States