Tian ruixiang holdings ltd announces initial closing of follow-on public offering

Beijing, june 07, 2021 /prnewswire/ -- tian ruixiang holdings ltd (nasdaq: tirx) (the "company"), a china-based insurance broker, announced today the initial closing of its previously announced best-effort follow-on public offering for the sale of up to 4,800,000 units offered by the company at a purchase price of us$7.50 per unit. the initial closing of 2,000,000 units for aggregate gross proceeds of us$15 million, was made pursuant to the terms of a securities purchase agreement between the company and several institutional investors, dated june 2, 2021.
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