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Cocoon Extends Private Placement Deadline, Boosts Selling Price of Shares

MT Newswires ·  {{timeTz}}

07:02 PM EDT, 07/05/2022 (MT Newswires) -- Cocoon Holdings (HKG:0428) pushed back the deadline to complete its private placement to July 18 from July 4.

The securities investor also increased the placing price of its shares to HK$0.264 from HK$0.218 apiece. The adjustment will enable the company to receive HK$22.8 million ($3 million) in gross proceeds, up from its previous target of HK$18.8 million.

Cocoon is selling 86,334,444 new shares to raise funds for debt payments and working capital, according to a Tuesday disclosure.

Price (HKD): $0.33, Change: $+0.02, Percent Change: +4.76%

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