Treasure Global Prices IPO Of 2 Mln Shares At $4.00/shr

Treasure Global Inc (TGL), an e-commerce platform providing payment solutions and rewards programs, said that it has priced its upsized initial public offering of 2 million shares of its common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of about $8.0 million before deducting underwriting discounts, commissions, and other offering expenses.

In addition, TGI has granted the underwriters a 45-day option to purchase up to an additional 300,000 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.

The shares are expected to begin trading on the Nasdaq Capital Market on August 11, 2022, under the ticker symbol "TGL" and the offering is expected to close on or about August 15, 2022.

The company plans to use the net proceeds from the offering primarily to increase its capitalization and financial flexibility, in addition to working capital and general corporate purposes.

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