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Integrated Media Technology (IMTE) Announces Registered Direct Offering of Ordinary Shares

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Integrated Media Technology Limited Announces Registered Direct Offering of Ordinary Shares

March 23, 2021 10:53 AM EDT

SYDNEY, HONG KONG AND NEW YORK, March 23, 2021 /PRNewswire/ -- Integrated Media Technology Limited (NASDAQ: IMTE) ("IMTE" or the "Company"), announces today that it has entered into a Securities Purchase Agreement with an accredited investor for the issuance and sale in a registered direct offering of 708,000 ordinary shares of the Company ("Ordinary Shares") at a price of US$6.50 per share (the "Cash Offering") totaling US$4,602,000 , which will generate a net cash proceeds of approximately US$4,577,000 after deducting estimated expenses in connection with the offering.  The transaction is expected to close on March 25, 2021.

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