Next Technology raises $9 million in registered direct offering

Next Technology Holding Inc. (NASDAQ: NXTT) completed a $9 million registered direct offering, the company announced. Univest Securities, LLC served as the sole placement agent for the transaction.

The technology company sold 60 million shares of common stock to one investor at $0.15 per share. The offering also included pre-funded warrants as an alternative to shares, priced identically to the common stock minus an exercise price of $0.001 per share.

Next Technology describes itself as operating on a dual-engine strategy combining artificial intelligence and digital assets. The company provides AI-enabled software-as-a-service solutions to industrial clients in the Asia-Pacific region.

The offering was conducted under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission and declared effective on September 16, 2022. The prospectus supplement and accompanying prospectus are available on the SEC's website.

Univest Securities, registered with FINRA since 1994, provides investment banking, brokerage, and wealth management services to institutional and retail clients. The firm states it has raised over $1.3 billion in capital for issuers since 2019 across approximately 100 transactions in various industries including technology and life sciences.

Next Technology Holding Inc. was incorporated in Wyoming in March 2019. The company's business model includes AI software development and digital asset holdings, which it views as potential hedges against inflation.

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