CCSC Technology Raises $7.06M in Successful Public Offering
CCSC Technology International Holdings Limited (Nasdaq: CCTG) has successfully concluded a public offering, raising approximately $7.06 million. The company, specializing in customized interconnect products, sold 11,766,627 Class A ordinary shares and 23,533,254 warrants to achieve this.
The offering saw each Class A ordinary share paired with two warrants, sold at $0.60 per share and warrant pair. The warrants have an exercise price of $0.72 per share and will expire five years from issuance. CCSC Technology plans to use the net proceeds to bolster its branding, explore strategic acquisitions, and cover general corporate expenses.
The company operates under OEM and ODM models, serving a diverse global customer base. It offers a range of products, including connectors, cables, and wire harnesses. Revere Securities LLC acted as the placement agent, while Hunter Taubman Fischer & Li LLC and VCL Law LLP served as legal counsel. Cititrust International Securities Limited also played a role in the issuance of shares.
CCSC Technology's successful offering reflects its commitment to growth and expansion. The company's plans to strengthen branding and pursue strategic acquisitions suggest a proactive approach to enhancing its market position. Investors are advised to consider known and unknown risks and uncertainties associated with forward-looking statements.
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