Miami, Florida and London, United Kingdom / ACCESSWIRE / December 24, 2024 / MGO Global Inc. announced (Nasdaq:MGOL), a portfolio company of digital lifestyle brands (“MGO”, “MGO Global” or the “Company”), today announced the closing of its previously announced public offering of 6,315,000 units at a public offering price of $0.95. Per unit (“width”). Each unit consists of one share of common stock (or a pre-funded warrant to purchase one share of common stock alternatively) and one common warrant to purchase one share of common stock. The gross proceeds from the offering, before deducting placement agent fees and other offering expenses, were approximately $6.0 million.
The warrants, which are not exercisable unless approved by shareholders of MGO, will be initially exercisable at a price of $1,425 per share, subject to standard adjustments for dividends, splits and similar events and also subject to a reset adjustment on the reset date (as defined In the notes), taking into account the minimum price indicated therein. The warrants may also be exercised on a non-cash alternative basis under which the holder may exchange each warrant for two shares of common stock. The Warrants will become exercisable upon notice of stockholder approval and will expire on the earlier of (x) five years from the initial exercise date and (y) the closing date of MGO's publicly announced business combination with Heidmar, Inc. The common shares (or pre-funded warrants) and accompanying warrants were purchased only together in this public offering but were issued separately and were separable immediately upon issuance.
Maxim Group LLC acted as sole investor in connection with the offering.
The Company intends to use the net proceeds from the offering for general corporate purposes and working capital.
A Registration Statement on Form S-1 (File No. 333-282517) has been filed with the U.S. Securities and Exchange Commission (“SEC”) and declared effective by the SEC on December 20, 2024 and a Registration Statement on Form S- 1 (File No. 333-284001) filed under Rule 462(b) of the Securities Exchange Act of 1933, as amended, filed with the SEC. Securities and Exchange Commission and became effective on December 20, 2024. This offering is being made only by means of a prospectus. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at https://www.sec.gov. Electronic copies of the prospectus relating to this offering may also be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email. At syndicate@maximgrp.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Judicial like this.
About MGO Global
MGO Global is actively engaged in building a portfolio of independent, digitally innovative and lifestyle brands that are unique and distinct, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-quality customer experiences across e-commerce and wholesale. Channels. MGO currently consists of two business units: Americana Liberty, which markets a growing and evolving portfolio of carefully curated home and outdoor products, including Stand Flagpoles; and MGO Digital, which leverages the data analytics and marketing powered by advanced technology, relationships and industry expertise of our leadership to identify, incubate and deliver new and authentic lifestyle brand concepts. For more information about MGO, please visit www.mgoglobalinc.com.
Cautionary note regarding forward-looking statements
This press release may contain forward-looking statements that are subject to various risks and uncertainties. These statements include statements regarding the Company's ability to complete the proposed business combination with Heidmar, Inc. and grow its business, statements regarding the consummation of the offering, the satisfaction of the closing conditions and the use of proceeds from the offering and other statements that are not historical facts, including statements that may be accompanied by With the words “intend”, “may”, “will”, “plans”, “anticipates”, “anticipates”, “projects”, “predicts”, “estimates”, “goals”, “believes”, “hopes” or ” “Possible” or similar words. May vary Actual results may differ materially from those described in these forward-looking statements due to certain factors, including, but not limited to, the Company's ability to achieve profitable operations, customer acceptance of new products, and future actions taken by authorities in the countries in which the Company operates chain partners Supply, demand for the Company's products, the economic situation of the Company's customers, the impact of competitive products and prices, general economic conditions and other risk factors detailed in the Company's filings with the U.S. Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for Fiscal 2023 The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update the forward-looking statements contained in this press release, except in accordance with applicable law.
Contact information:
Dodi Handy, Communications Director
Phone: 407-960-4636
Email: ir@mgoteam.com
source: MGO International
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