Golden Heaven Group Holdings Ltd. (GDHG) announced on Tuesday that it has secured a $25.2 million investment through a private placement involving 20 million Class A Ordinary Shares.
The company plans to allocate these funds towards the acquisition, enhancement, development, operation, and maintenance of its parks.
Furthermore, the China-based amusement park operator has disclosed that should it not meet specific operational and financial goals by September 30, 2027, it is obligated to issue up to 10 million Class A Ordinary Shares to investors at no additional cost.
According to the Securities Purchase Agreement, the Company has also agreed to issue warrants that allow for the purchase of up to 40 million Class A Ordinary Shares at a price of US$1.386 each.
In addition, the company has made a series of amendments to the existing warrants with current warrant holders.
