M&A: MGO Global Inc.

Form Type: 8-K

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: New

Accession Number: 000149315224052480

Comments: On December 23, 2024, MGO Global Inc. entered into a securities purchase agreement for the sale of an aggregate of $4,588,500 in units consisting of common stock and warrants to various purchasers. The Offering consisted of 4,830,000 units, which included both common stock with common warrants and pre-funded warrants. The closing of the sale occurred on December 24, 2024, with gross proceeds totaling $5,999,250. The warrants will require MGO stockholder approval to be exercisable and will have specific terms regarding exercise price adjustments and the number of shares of common stock issuable. The Purchase Agreement stipulates that the Company must file a preliminary proxy within five days of the closing date and hold a special stockholder meeting to obtain this approval. Additional agreements included a customary “lock-up” arrangement for the Company’s directors and officers and a placement agency agreement with Maxim Group LLC. The document details restrictions on the issuance of additional securities post-closing and outlines the compensation for the placement agent involved in the Offering.

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