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Reitar Logtech Holdings Limited (NASDAQ:RITR) shares are up on Friday following the announcement of a strategic equity investment agreement worth up to $60 million.
Strategic Equity Investment Agreement
Under the terms of the agreement, Reitar will issue up to 15 million newly issued ordinary shares at a subscription price of $4.00 per share.
The company plans to allocate at least 92% of the investment proceeds to a consortium to acquire a controlling equity interest in a prominent international logistics company.
The investment agreement follows a non-binding Memorandum of Understanding with Equator Capital Management SPC, which indicates strong investor confidence in Reitar’s growth strategy.
The company aims …
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