Golden Heaven Group Secures $25.2 Mln Through Private Placement

(RTTNews) - Golden Heaven Group Holdings Ltd. (GDHG) Tuesday announced that it has secured an investment of $25.2 million through a private placement of 20 million Class A Ordinary Shares.

The Company will use the proceeds for acquisition, upgrade, development, operation, and maintenance of parks.

The amusement park operator in China said that if it fails to meet certain operational and financial targets by September 30, 2027, it will issue up to 10 million Class A Ordinary Shares to the investors for no additional consideration.

As part of the Securities Purchase Agreement, the Company agreed to issue warrants to purchase up to 40 million Class A Ordinary Shares in aggregate at an exercise price of US$1.386.

The Company also entered into a series of amendments to warrant with existing holders of warrants.