NFT Ltd. Shares Climb 26.83% After Hours - NFT (AMEX:MI)

NFT Ltd. shares jumped 26.83% to $1.56 in after-hours trading Tuesday after the Hong Kong-based art and collectibles platform announced a $2.55 million registered direct offering. The company will issue 1.89 million units at an effective price of $1.35 each. Each unit includes one Class A ordinary share, or a pre-funded warrant in its place, plus one common warrant. The common warrants are exercisable immediately at $1.35 and expire after five years. Expected gross proceeds are about $2.55 million, before placement-agent fees, legal fees, and other expenses. The proceeds are intended for working capital and general corporate purposes, and the deal is expected to close Wednesday, subject to customary conditions. Maxim Group LLC is the sole placement agent.