May 08, 2023
GD Culture Group Limited (NASDAQ: GDC, the “Company”), is a holding company currently conducting business through Shanghai Highlight Media Co., Ltd, which is an integrated marketing service agency, focusing on serving businesses in China in connection with brand management, image building, public relations, social media management and event planning.
On May 4, 2023, the Company announced the closing of its registered direct offering and concurrent private placement in an aggregate of (i) 310,168 shares of the Company’s common stock, par value $0.0001 per share, and pre-funded warrants to purchase up to 844,351 shares of the Company’s common stock at a purchase price of $8.269 per share with respect to the registered direct offering, and (ii) warrants to purchase up to 1,154,519 shares of the Company’s common stock at an exercise price of $8.27 per share with respect to the private placement. The aggregate gross proceeds to the Company of the offering were approximately $9.55 million.
Univest Securities, LLC acted as the sole placement agent for the Offering; Hunter Taubman Fischer & Li LLC (“HTFL”) acted as counsel to the placement agent. HTFL is a boutique law firm specializing in securities transactions, corporate, commercial, and cross-border financing, immigration, and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.