EpicQuest Education announces $3.7M registered direct offering

EpicQuest Education (EEIQ)Group announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,068,493 ordinary shares in a registered direct offering at a purchase price of 73c per share. The closing of the offering is expected to occur on or about August 26, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $3.7M before deducting placement agent fees and other offering expenses payable by the company. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. FT Global Capital is acting as the exclusive placement agent for the offering.