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Benzinga
Benzinga
Business
Shivani Kumaresan

Happiness Development Raises $10M Via Equity Offering

United States
  • Happiness Development Group Ltd (NASDAQ:HAPP) has entered into a securities purchase agreement with several non-U.S. strategic investors to sell a total of 12.5 million of its shares.
  • The company noted that the purchase price of $0.80 each represents over 45% premium to the market price.
  • The company intends to use the gross proceeds to expand its international e-commerce sales, working capital, and general corporate use.
  • "We are very grateful to these strategic investors for their support to our international expansion, especially with a premium price," said CEO Xuezhu Wang.
  • Price Action: HAPP shares are trading lower by 2.86% at $0.50 in premarket on the last check Friday.
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