Singularity Future Technology Ltd. (NASDAQ: SGLY) has closed a registered direct offering raising approximately $1.8 million, according to a press release from placement agent Univest Securities, LLC.

Under the terms of the securities purchase agreement, the company sold 600,000 shares of common stock, or pre-funded warrants in lieu of common stock, to an institutional investor at an offering price of $3.00 per share. Univest Securities acted as the sole placement agent for the transaction.

The offering was made pursuant to a shelf registration statement on Form S-3 declared effective by the U.S. Securities and Exchange Commission on Oct. 24, 2024.

Singularity Future Technology is a logistics services provider focused on freight solutions including shipping, warehousing, and logistical support, primarily serving steel companies and e-commerce businesses.