Nasdaq-listed Agape ATP Corporation (ATPC) has entered into agreements for a $23 million (USD) private placement with institutional investors.
The strategic funding will support ATPC’s continued expansion in healthcare, oil and gas trading, and renewable energy, reinforcing the company’s commitment to innovation, sustainability and long-term market leadership.
“Under the terms of the agreements, 46 million shares of common stock will be issued at USD 0.50 per share, in accordance with Regulation S of the U.S. Securities Act, which governs offerings to non-U.S. investors,” the ATPC statement read.
“The placement has been secured through subscription agreements with 18 institutional investors. The transaction is expected to close within 30 business days, subject to the satisfaction of conditions precedent and regulatory procedures,” said the statement.
This announcement comes at a pivotal time for ATPC, as the company continues to expand its global presence across key industries. In the energy sector, ATPC recently signed a strategic partnership with Swiss One Oil & Gas AG to facilitate large-scale fuel procurement, including EN590 10PPM diesel and Jet Fuel A1, marking a significant step into the oil and gas trading market.
Prof Dato’ Sri Dr How Kok Choong, the founder and global group chief executive officer of ATPC stated: “With our expansion into oil and gas trading, solar energy and our continued commitment to healthcare and wellness solutions, this investment will accelerate our ability to execute on key projects, strengthen our operational capabilities, and enhance shareholder value.”
ATPC’s total issued shares will increase from 4,005,381 to 50,005,381 following the transaction.
The company remains focused on leveraging strategic investments to enhance its market leadership and capitalise on opportunities in high-growth sectors.
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