Singularity Future Technology Ltd. (NASDAQ: SGLY) closed a registered direct offering raising approximately $5.0 million in gross proceeds, according to a press release from placement agent Univest Securities, LLC.

Under the terms of the securities purchase agreement, the company sold 1,562,500 shares of common stock, or pre-funded warrants in lieu of common stock, to institutional investors at $3.20 per share. The offering was priced at-the-market under Nasdaq rules.

Univest Securities, LLC served 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 October 24, 2024.

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