ORTOLI ROSENSTADT LLP REPRESENTS AGM GROUP HOLDINGS INC. IN $20 MILLION REGISTERED DIRECT OFFERING

Rhea-AI Summary

AGM Group Holdings Inc. (Nasdaq: AGMH) completed a registered direct offering of 2,898,552 Class A ordinary shares and a private offering of warrants for 1,449,276 Class A ordinary shares, raising approximately $20 million. This offering was conducted under a shelf registration statement filed with the SEC. The shares were registered, while the warrants and underlying shares are exempt from registration requirements. The law firm Ortoli Rosenstadt LLP represented AGM Group in this transaction, which could potentially enhance the company’s liquidity and growth prospects.

Positive

• Raised approximately $20 million in combined offerings.
• Potential for enhanced liquidity and growth opportunities.

Negative

• Dilution of existing shares due to the issuance of new shares and warrants.

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Ortoli Rosenstadt LLP, a New York full-service international law firm, today announced that it represented AGM Group Holdings Inc. (Nasdaq: AGMH) ("AGM Group"), an integrated technology company focusing on providing fintech software services and producing high-performance hardware and computing equipment, in a registered direct offering of 2,898,552 Class A ordinary shares of AGM Group and a concurrent private offering of warrants to purchase up to 1,449,276 Class A ordinary shares of AGM Group. The gross proceeds of the offerings were approximately $20 million.

The Class A ordinary shares described above (but not the warrants or the Class A ordinary shares underlying the warrants) were offered pursuant to a shelf registration statement on Form F-3 (File No.: 333-236897) which was initially filed with the U.S. Securities and Exchange Commission on March 5, 2020, and declared effective on May 28, 2020.  The warrants being offered in the concurrent private placement, along with the underlying Class A ordinary shares, have not been registered under the Securities Act of 1933, as amended (the "Securities Act") and were offered and sold pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulation D promulgated thereunder.

"As a firm, we would like to congratulate AGM Group for its registered direct offering," commented Partner William Rosenstadt. "We are proud to represent them and look forward to assisting them with any future endeavors." 

The Ortoli Rosenstadt LLP team included Partners William Rosenstadt and Jason Ye, Counsel Yarona Yieh, and Associates Grace Bai and Zhenling Zhang.

About Ortoli Rosenstadt LLP
Founded in 2006, Ortoli Rosenstadt LLP is a New York-based law firm representing global clients. With its attorneys' abilities to speak nine different languages, the firm provides cutting-edge, solution-oriented legal advice to its clients in a wide variety of practice areas, including corporate & securities, mergers and acquisitions, real estate, global mobility and employment, intellectual property, and litigation.

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SOURCE Ortoli Rosenstadt LLP

FAQ

What is the amount raised by AGM Group in the recent offering?

AGM Group raised approximately $20 million through a registered direct offering and a concurrent private offering.

How many Class A ordinary shares were offered by AGM Group?

AGM Group offered 2,898,552 Class A ordinary shares in the registered direct offering.

What is the impact of AGM Group's offering on existing shareholders?

The offerings could lead to dilution of existing shares due to the issuance of new shares and warrants.

Who represented AGM Group in their recent offering?

AGM Group was represented by the law firm Ortoli Rosenstadt LLP during the offerings.