Caravelle international group announces a private placement of up to $6.8 million

Singapore , jan. 10, 2024 /prnewswire/ -- caravelle international group (the "company", nasdaq: caco), a trailblazing global ocean technology company, today announced that it has entered into a securities purchase agreement with two institutional investors (the "investors") on january 5, 2024 to issue and sell $1.5 million of securities as an advance payment for the initial tranche of $3.3 million in a private placement of up to $6.8 million which closed on january 10, 2024. the remaining $1.8 million of the initial tranche shall be paid to the company upon satisfaction of certain post-closing conditions as set forth in the securities purchase agreement.
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