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Magic Empire Global Signs Strategic Cooperation with Sin Hopeway for $500M
Magic Empire Global announced that it entered into a letter of intent with Singapore-based commodity trading enterprise Sin Hopeway for a five-year strategic cooperation to develop an international timber import and export supply chain business, commencing from the date of the Letter of Intent. During the five-year cooperation period, the company, having completed its strategic industrial upgrade, shall supply Sin Hopeway with raw timber materials. The cumulative target trade volume between the parties shall be $500M.
Magic Empire Global Expands into International Commodity Trading
Magic Empire Global announced a new strategic initiative to expand into international commodity trading and supply chain finance, building on its established financial services platform in Hong Kong. Going forward, the company intends to develop its business around commodity trading and financial services.
Magic Empire Prices Registered Direct Offering of 2,678,572 Units at $1.12 Each
Magic Empire Global Limited announced the pricing of a registered direct offering of 2,678,572 units at an offering price of US$1.12 per Unit. Chaince Securities, LLC is acting as the Sole Placement Agent for the Offering.
Magic Empire Global Files $200M Mixed Securities Shelf
Magic Empire Global files $200M mixed securities shelf
Magic Empire Global says bid price deficiency concern successfully resolved
Magic Empire Global announced that the bid price deficiency concern raised by Nasdaq has been successfully resolved. The company has received written notification from The Nasdaq Stock Market LLC notifying the company that it has regained compliance with the minimum bid price requirement set forth in the rules for continued listing on the Nasdaq Capital Market. On February 26, the company received a letter from Nasdaq notifying the company that it has not regained compliance with Listing Rule 5550(a)(2). Accordingly, its securities will be delisted from the Capital Market. The company may appeal Staff's determination to the Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. On March 4, the company received formal notification from Nasdaq, that the company has regained compliance with the Nasdaq Minimum Bid Price Requirement. Nasdaq made this determination of compliance after the closing bid price of the Company's ordinary shares was at $1.00 per share or greater for the last 10 consecutive business days from February 18, 2025 to March 3, 2025. Accordingly, the company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed.
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