Erayak Power Solution (RAYA) Group announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of an aggregate of 107.69M shares of the company’s Class A ordinary shares. The aggregate gross proceeds to the company of this offering are expected to be approximately $7M. The transaction is expected to close on or about August 1, subject to the satisfaction of customary closing conditions. Craft Capital Management is acting as the sole placement agent for the offering.
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