Magic Empire closes $3M registered direct offering on Nasdaq

Magic Empire Global Limited (NASDAQ: MEGL), a Hong Kong-based financial services provider, announced the closing of a registered direct offering of 2,678,572 units at $1.12 per unit, raising approximately $3 million in gross proceeds before placement agent commissions and other expenses.

Each unit consists of one Class A ordinary share and one warrant to purchase one Class A ordinary share, or up to nine Class A ordinary shares through an alternative cashless exercise option. Each warrant carries an exercise price of $1.12 per Class A ordinary share and is exercisable from the issuance date through the one-year anniversary of that date.

The company stated it intends to use the net proceeds for working capital and general corporate purposes. Chaince Securities, LLC served as the sole placement agent for the offering.

The securities were offered pursuant to a registration statement on Form F-3 previously filed with and declared effective by the U.S. Securities and Exchange Commission. The final prospectus has been filed with the SEC and is available on the SEC's website.

Magic Empire Global, established in 2016, provides corporate finance advisory services in Hong Kong, including IPO sponsorship, financial advisory, compliance advisory, and corporate services.

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