Magstone Law Provided Legal Services for BAIYU Holdings, Inc. (NASDAQ: BYU) in its $36.9 Million PIPE Financing

2024-08-31 16:23:46

Magstone Law represented BAIYU Holdings, Inc. (NASDAQ: BYU), a leading B2B e-commerce platform and supply chain service provider for bulk commodities, in a Private Investment in Public Equity (PIPE) transaction that closed on June 18, 2024.

This PIPE transaction involved the sale of 30,000,000 shares of BAIYU's common stock at a price of 1.23pershare,raisingtotalgrossproceedsofapproximately1.23pershare,raisingtotalgrossproceedsofapproximately36.9 million. The funds raised through this PIPE transaction are expected to be used for general corporate operations and working capital purposes.