RE:GDC .... Halted right before the closeIseneschal wrote: Something brewing......has to be
This could very well be "screw the shorts and the longs" scenario
This is very weird
Yes....my observation was correct...this is why!
GD Culture Group Limited Announces Downsize of its Registered Direct Offering Priced At-the-Market Under Nasdaq Rules and Private Placement to $9.55 Million
2023-05-02 16:00 ET - News Release
NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”, formerly known as JM Global Holding Company, TMSR Holding Company Limited and Code Chain New Continent Limited), a holding company currently conducting business through Shanghai Highlight Media Co., Ltd. (“Highlight Media”) today announced that it has downsized its previously announced registered direct offering and concurrent private placement to 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 both transactions are now expected to be approximately $9.55 million. The transactions are expected to close on or about May 4, 2023, subject to the satisfaction of customary closing conditions.
Univest Securities, LLC is acting as the sole placement agent.