YY Group amends offering of 9.5M shares at 42c

YY Group (YYGH) Holding announced the amendment of its previously announced registered direct offering. The Company and the investors have entered into an amended and restated securities purchase agreement, pursuant to which the Company will offer 9,523,812 Class A Ordinary shares and warrants to purchase up to 14,285,718 Class A Ordinary Shares at a purchase price of $0.42 per share and accompanying warrants. The warrants have an exercise price of $0.50 per share and a 3.5-year term. Gross proceeds to the Company are expected to be approximately $4.0 million, assuming no exercise of the warrants, before deducting offering expenses. The Company expects to use the net proceeds from this offering for working capital and general corporate purposes. FT Global Capital, Inc. is acting as the exclusive placement agent for the offering.