NANPING, China, Nov. 19,
2024 /PRNewswire/ -- Golden Heaven Group Holdings
Ltd. ("Golden Heaven" or the
"Company") (Nasdaq: GDHG), an amusement park operator in
China, today announced that on
November 18, 2024, the Company
entered into a securities purchase agreement (the "Securities
Purchase Agreement") with certain investors.
Pursuant to the Securities Purchase Agreement, the investors
agreed to subscribe for and purchase from the Company, through a
private placement, a total of 20,000,000 Class A Ordinary Shares
for a total purchase price of US$25.2
million. In the event that the Company fails to meet certain
operational and financial targets by September 30, 2027, the Company will issue up to
10,000,000 Class A Ordinary Shares to the investors for no
additional consideration. The Company will use the proceeds from
issuance of Class A Ordinary Shares for acquisition, upgrade,
development, operation and maintenance of parks.
As the part of the Securities Purchase Agreement, the Company
agreed to issue warrants (the "Warrants") to the investors granting
the investors the right to purchase up to 40,000,000 Class A
Ordinary Shares in aggregate at an exercise price of US$1.386. The Warrants will expire five (5) years
after issuance. The Warrants contain standard adjustments to the
exercise price. The transactions contemplated under the Securities
Purchase Agreement are expected to close in November 2024.
The Company also announced that, on November 18, 2024, it entered into a series of
amendments to warrant with existing holders of warrants, pursuant
to which, (i) the exercise price were amended to be US$1.386, and (ii) the existing holders of
warrants agreed to exercise their respective warrants in whole
concurrently with execution of such amendment.
About Golden Heaven Group Holdings Ltd.
Through its Chinese operating entities, the Company manages and
operates amusement parks, water parks and complementary
recreational facilities. The parks offer a broad selection of
exhilarating and recreational experiences, including both thrilling
and family-friendly rides, water attractions, gourmet festivals,
circus performances, and high-tech facilities. For more
information, please visit the Company's website at
https://ir.jsyoule.com/.
Forward-Looking Statements
This press release contains "forward-looking statements".
Forward-looking statements reflect our current view about future
events. These forward-looking statements involve known and unknown
risks and uncertainties and are based on the Company's current
expectations and projections about future events that the Company
believes may affect its financial condition, results of operations,
business strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "could," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "is/are likely to," "propose,"
"potential," "continue" or similar expressions. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
Golden Heaven Group Holdings Ltd.
Email:
group@jsyoule.com
Ascent Investor Relations LLC
Phone:
+1-646-932-7242
Email: investors@ascent-ir.com
View original
content:https://www.prnewswire.com/news-releases/golden-heaven-group-holdings-ltd-secures-investment-of-us25-2-million-and-enters-into-amendments-to-outstanding-warrants-302309992.html
SOURCE Golden Heaven Group Holdings Ltd.
