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Greenpro Capital Corp. (NASDAQ:GRNQ) announced Tuesday that it has completed a private placement of 200,000 shares of its common stock at a purchase price of $1.30 per share, raising a total of $260,000. The transaction closed Monday.
According to a statement in the company’s SEC filing, the shares were sold to an individual investor under a subscription agreement. The offering was conducted as a private placement and was not registered under the Securities Act of 1933, relying on exemptions provided by Section 4(a)(2) and Regulation D. The company stated that the investor represented being an “accredited investor” as defined by Regulation D.
No underwriters participated in the transaction. Greenpro Capital indicated that proceeds from the offering will be used for operating capital.
Greenpro Capital Corp. is incorporated in Nevada and its common stock is listed on the NASDAQ Capital Market under the ticker GRNQ. The information in this article is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
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