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Treasure Global Requests Withdrawal of S-1 Filing, Citing Market Conditions
2024-08-16 21:31
09:31 AM EDT, 08/16/2024 (MT Newswires) -- Treasure Global (TGL) said Friday that it has requested to withdraw an S-1 registration statement that it had filed with the US Securities and Exchange Commission, citing unfavorable market conditions and recent declines in its share price.
The company's filing, submitted on July 26, proposed offering about 1.1 million shares of common stock with accompanying warrants at an assumed price of $1.88 per share.
Treasure Global said Friday the registration had not yet been approved and no securities were sold.
Treasure is "evaluating alternative funding and strategic operations," the company's chief executive officer, Carlson Thow, said.
Shares of Treasure Global were down nearly 11% in recent Friday premarket activity.
Price: 0.8999, Change: -0.11, Percent Change: -10.90
