Summary by Futu AI
ESGL Holdings Limited has successfully completed the final closing of its private placement on April 3, 2024, as detailed in a Form 6-K report filed with the United States Securities and Exchange Commission. The company, based in Singapore, issued a total of 10,000,000 ordinary shares to an accredited investor at a price of $0.25 per share. The initial closing occurred on March 28, 2024, with the purchase of 2,000,000 shares, followed by the final closing with 8,000,000 shares acquired by the investor. ESGL Holdings Limited raised gross proceeds of $2,500,000 through this private placement. The company plans to allocate 85% of the net proceeds for working capital and general corporate purposes, while the remaining 15% will be used to pay outstanding professional fees. The shares were offered under an exemption provided by Section 4(a)(2) of the United States Securities Act of 1933. Furthermore, ESGL Holdings Limited has committed to filing a resale registration statement for the shares issued, ensuring they can be resold by the purchaser, and will maintain the effectiveness of this registration statement as required by law.