DJ WiMi Hologram Cloud in Securities Purchase Deals for 11.2M Units
By Chris Wack
WiMi Hologram Cloud Inc. said Tuesday it entered into securities purchase agreements with certain institutional investors in connection with a registered direct offering of 11.2 million units at $7.50 a unit.
The company said each unit consists of one American depositary share, each representing two class B ordinary shares and 0.4 warrant to purchase one ADS at an exercise price of $8.60 an ADS, subject to adjustments.
The warrants will be exercisable immediately after the date of issuance and expire two years after the initial exercise date.
The closing of the $83.8 million offering is expected on or about Thursday.
WiMi shares fell 13% to $7.68 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 23, 2021 09:25 ET (13:25 GMT)
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