Aureus Greenway Holdings Inc. (NASDAQ: AGH) completed a $9 million private placement with institutional and accredited investors on March 10, according to a company statement.

The Florida-based golf course operator issued 3,009,667 shares of common stock and pre-funded warrants at $3.00 per share. The pre-funded warrants are exercisable immediately at $0.001 per share and expire only when fully exercised.

The company plans to use net proceeds for working capital and general corporate purposes, including expenses related to its proposed business combination with Autonomous Power Corporation, which operates as Powerus.

Dominari Securities LLC served as sole placement agent for the offering. The securities were sold under an exemption from registration requirements under the Securities Act of 1933.

Aureus Greenway owns and operates golf course properties in Florida, including Kissimmee Bay Country Club and Remington Golf Club in the Orlando area. The company has agreed to file a registration statement with the Securities and Exchange Commission covering resale of the shares and underlying warrants issued in the private placement.