VCI Global (VCIG) announced that it has entered into a definitive agreement with Esousa Group Holdings for the issuance and sale of its ordinary shares and warrants in a registered direct offering. The offering is structured in multiple tranches, with the initial tranche expected to result in aggregate gross proceeds of $5M, before deducting placement agent fees and other offering expenses. Pursuant to the terms of the agreement between the parties, the initial closing of the offering is expected to occur on or about January 20, subject to the satisfaction of customary closing conditions. E.F. Hutton & Co. is acting as the exclusive placement agent for the offering.
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