Urban Tea (MYT) Announces Pricing of Approximately $25Million Registered Direct Offering

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Go back to Urban Tea (MYT) Announces Pricing of Approximately $25Million Registered Direct Offering

Urban Tea, Inc. Announces Pricing of Approximately $25Million Registered Direct Offering

April 28, 2021 9:15 AM EDT

CHANGSHA, China, April 28, 2021 /PRNewswire/ -- Urban Tea, Inc. ("Urban Tea" or the "Company") (NASDAQ: MYT), a premier retailer of specialty teas and baked goods headquartered in Hunan, China, announced today that it has entered into a securities purchase agreement with certain accredited investors to sell approximately $25.0 million of its ordinary shares and warrants in a registered direct offering.

Under the terms of the securities purchase agreement, Urban Tea has agreed to sell 6,950,000 ordinary shares and warrants to purchase 6,950,000 ordinary shares. The warrants will be exercisable immediately upon the... More