DarkIris Inc. Prices $6 Million Public Offering on Nasdaq
DarkIris Inc. has priced a best-efforts public offering targeting $6 million in gross proceeds, before fees and expenses.
DarkIris Inc., a Hong Kong-based technology company focused on digital media and entertainment, announced Wednesday the pricing of a best-efforts public offering expected to generate approximately $6 million in gross proceeds, according to a company statement.
The Nasdaq-listed firm, trading under the ticker DKI, said the total proceeds are subject to reduction after placement agent fees and other estimated expenses are deducted. The figure also excludes any additional proceeds that could arise from the exercise of warrants included in the offering.
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Best-efforts offerings differ from traditional underwritten deals in that placement agents commit only to their best attempt to sell shares rather than guaranteeing the full amount, leaving final proceeds potentially below the stated target. The structure is common among smaller-capitalization companies seeking capital with lower underwriting risk.
DarkIris describes itself as an innovative provider of technology solutions within the digital media and entertainment sector. The company has not disclosed the specific intended use of proceeds from the offering or the per-share pricing terms in the initial announcement.
Continue reading at GlobeNewswire - Mergers And Acquisitions.
