Intelligent Living Secures $300K via Share Placement
Ticker: ILAG · Form: 6-K · Filed: Feb 27, 2025 · CIK: 1814963
Sentiment: neutral
Topics: share-placement, capital-raise, equity-offering
TL;DR
ILAAG raising $300K via share sale at $0.29/share with Craft Capital.
AI Summary
On February 25, 2025, Intelligent Living Application Group Inc. entered into a Placement Agency Agreement with Craft Capital Management LLC. Under this agreement, the company will issue and sell 1,034,483 ordinary shares at a price of $0.29 per share, aiming to raise approximately $300,000 before expenses.
Why It Matters
This capital raise provides the company with funds that can be used for general corporate purposes, potentially supporting ongoing operations or future growth initiatives.
Risk Assessment
Risk Level: medium — The company is issuing new shares, which can dilute existing shareholders, and the amount raised is relatively small, suggesting potential ongoing funding needs.
Key Numbers
- 1,034,483 — Ordinary Shares (Number of shares to be sold in the placement)
- $0.29 — Price Per Share (The price at which each ordinary share will be sold)
- $300,000 — Gross Proceeds (Estimated amount to be raised before expenses)
Key Players & Entities
- Intelligent Living Application Group Inc. (company) — Filer and issuer of shares
- Craft Capital Management LLC (company) — Placement Agent for the share offering
- February 25, 2025 (date) — Date of the Placement Agency Agreement
- 1,034,483 (dollar_amount) — Number of ordinary shares to be issued
- $0.29 (dollar_amount) — Price per ordinary share
- $300,000 (dollar_amount) — Approximate gross proceeds from the share issuance
FAQ
What is the purpose of the funds raised from the share placement?
The filing states the proceeds will be used for general corporate purposes.
Who is acting as the placement agent for this offering?
Craft Capital Management LLC is acting as the Placement Agent.
What is the total number of shares being issued?
The company will issue 1,034,483 ordinary shares.
At what price are the shares being offered?
The ordinary shares are being offered at a price of $0.29 per share.
When was the Placement Agency Agreement entered into?
The agreement was entered into on February 25, 2025.
Filing Details
This Form 6-K (Form 6-K) was filed with the SEC on February 27, 2025 regarding Intelligent Living Application Group Inc. (ILAG).