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Eshallgo (NASDAQ: EHGO) has announced a significant equity investment agreement with CS Asia Opportunities Master Fund. The fund will invest up to $20 million by purchasing 4,166,660 shares at $4.8 per share in tranches. This strategic investment aims to facilitate EHGO's entry into Tencent's business ecosystem, enabling the company to explore new opportunities in office integration and cloud gaming sectors.
The partnership combines EHGO's expertise in office integration services with Tencent's resources and advanced technologies. CS Fund's CEO Frank Dominick expressed confidence in EHGO's growth potential, particularly with Tencent's support.
Eshallgo (NASDAQ: EHGO) announced the acquisition of D&K Asset Management (Hong Kong) and established a strategic partnership with Beijing Liuliuqiu Cultural Development. The deal includes two major cooperation agreements with Tencent Technology: a Cloud Gaming Console Product Cooperation Agreement for developing gaming consoles and a Cross-Industry Cooperation Agency Agreement for joint marketing activities.
EHGO also signed a sales agreement for 1,000 cloud gaming consoles with Liuliuqiu Cultural Development. The company will develop consoles supporting multiple cloud gaming services, including Migu Quick Gaming, Tencent START, Microsoft Xcloud, and GeForce Now. EHGO operates with over 20 provincial subsidiaries, 150 service units, and 1,500 technical service personnel, serving more than 20,000 enterprise customers through its Yixiuge platform.
Eshallgo (NASDAQ: EHGO) has secured a $5 million financing through convertible debentures with an accredited investor. The debentures carry a 5% annual interest rate (18% if default) and mature on November 28, 2025. The funding will be released in three tranches: $1.5M initially closed, $2M upon registration statement filing, and $1.5M upon registration effectiveness. The conversion price is fixed at $4.756 for the first 50 days, then converts at the lower of $4.756 or 93% of the lowest 5-day VWAP, with a floor price of $0.78954. The company will pay a 1% commitment fee and a $25,000 due diligence fee.
Eshallgo, a leading office solution provider in China, announced the closing of its initial public offering (IPO) of 1,250,000 Class A ordinary shares priced at $4 per share. Trading began on July 2, 2024, on the Nasdaq Capital Market under the ticker symbol EHGO. The IPO raised gross proceeds of $5 million before underwriting discounts and expenses. The underwriters have a 45-day option to purchase an additional 187,500 shares at the offering price. US Tiger Securities and Kingswood Capital Partners co-underwrote the offering, with legal counsel provided by Ortoli Rosenstadt LLP and VCL Law LLP.
Eshallgo, a prominent office solution provider in China, announced the pricing of its initial public offering (IPO) of 1,250,000 Class A ordinary shares at $4 per share. This offering aims to raise $5 million, before deducting underwriting discounts and offering expenses. The shares will trade on Nasdaq under the ticker 'EHGO' starting July 2, 2024.
US Tiger Securities and Kingswood Capital Partners are co-underwriters for the IPO. The company has also granted underwriters a 45-day option to purchase up to an additional 187,500 shares. The offering is set to close on July 3, 2024, subject to customary conditions.
A registration statement on Form F-1 has been filed with and declared effective by the SEC. The final prospectus will be available on the SEC's website. Investors are advised to read these documents for comprehensive details.
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