NFT Limited Closes $2 Million Public Offering

NFT Limited announced the closing of its public offering, raising approximately $2.01 million in gross proceeds. The offering consisted of 437,957 units, including common units and pre-funded units, at prices of $4.60 and $4.56 respectively. After deducting fees and expenses, the net proceeds amounted to approximately $1.76 million, intended for working capital and general corporate purposes. The company also detailed terms for common warrants and pre-funded warrants, including exercise prices, expiration dates, and beneficial ownership limitations. Officers and directors entered into lock-up agreements, restricting the sale of their shares for 120 days post-offering. Maxim Group LLC acted as the exclusive placement agent, receiving a 6% fee and a 12-month right of first refusal on future offerings. The company has agreed to a 30-day restriction on issuing ordinary shares or convertible securities.