Pop Culture Group to sell 5M shares at $1.20 in registered direct offering

Pop Culture Group (CPOP) announced that it has entered into a securities purchase agreement with institutional investors for the sale of 5M of its Class A ordinary shares in a registered direct offering at a purchase price of $1.20 per share. The gross proceeds from the offering are expected to be approximately $6M before deducting offering expenses payable by the company. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about September 29, subject to the satisfaction of customary closing conditions. FT Global Capital is acting as the exclusive placement agent for the offering.