Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
GUANGZHOU, CHINA - Youxin Technology Ltd (NASDAQ:YAAS) announced Monday the closing of its previously announced underwritten public offering, raising approximately $6 million in gross proceeds before deducting fees and expenses. The offering comes as the stock has experienced significant pressure, falling over 97% year-to-date according to InvestingPro data.
The offering consisted of 21,428,571 Common Units priced at $0.28 each. Each unit included one ordinary share, one Series A warrant exercisable at $0.28 per share, and one Series B warrant exercisable at $0.00001 per share. The Series A warrants are exercisable immediately and expire in 60 months.
Aegis Capital Corp. served as the sole book-running manager for the transaction and partially exercised its over-allotment option on September 5, purchasing an additional 3,214,286 Series A warrants and 3,214,286 Series B warrants.
The SEC declared the company’s registration statement effective on September 4, 2025.
Youxin Technology provides cloud-based software as a service (SaaS) and platform as a service (PaaS) solutions designed to help retail enterprises with digital transformation. The company’s products allow retailers to integrate management systems, distributors, salespersons, stores, and customers across various digital platforms.
The information in this article is based on a company press release statement.
In other recent news, Youxin Technology Ltd announced the pricing of a $6 million underwritten public offering. This offering is set to generate approximately $6 million in gross proceeds before fees and expenses, consisting of 21,428,571 Common Units priced at $0.28 per unit. Each unit includes one Ordinary Share or Pre-Funded Warrant, one Series A Registered Common Warrant, and one Series B Registered Common Warrant. Additionally, Youxin Technology’s shareholders approved share consolidation and amendments at an extraordinary general meeting, with participation from holders of 188,875,146 ordinary shares. The company has also received two compliance notices from Nasdaq for failing to meet listing requirements, specifically the minimum bid price and the market value of listed securities. These developments are crucial for investors to consider.
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