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Stock Alert: Agora Zooms 40%

Shares of Agora, Inc. (API), a platform for real-time engagement APIs, are rising more than 40% Monday morning to touch a new high of $81.48.

Agora today said it agreed to privately place $250 million of Class A ordinary shares with an accredited investor. This is about 4.5% of the Company's total outstanding shares.

On January 27, the company had announced its decision to buy Easemob, a Chinese instant messaging API provider in an all-cash transaction. The transaction is expected to close during the first quarter of 2021

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