Antelope Enterprise Inc. (NASDAQ: AEHL) stock soared during the last trading close by 10.61%, while the AEHL stock price rises by 22.38% in the after-hours trading session. Currently, no recent news follows the increase in AEHL stock; therefore, we will look at Antelope Enterprise’s past development to get an idea about what is happening. AEHL deals with the manufacturing of ceramic tiles, which are used for interior flooring and exterior siding, and in the designing of residential and commercial buildings.
Recent Past Developments
Antelope Enterprise has not recently revealed any press release. AEHL, on February 12, announced that it had reached an agreement with three institutional investors to register a direct offering of securities with a gross total of $2.1 million, without adding commissions and expenses. Furthermore, Antelope Enterprise announced to give 588,236 authorized common shares at a purchase price of $3.57 per share in association with the offering. During a private placement, an investor’s common share will be accompanied by an unregistered warrant to purchase one common share from AEHL.
The warrants have a $3.57 per share strike price, which will be payable right after the issuing, and that will expire after five years of the initial date. AEHL also clarifies that the gross amount generated from the offering will be used for general corporate and working capital purposes by Antelope Enterprise. For this offering, Dawson James Securities worked as the sole placement agent.
Although the deal was supposed to finalize on February 17, 2021, Antelope Enterprise did not make any announcement around the date. Therefore, we can only expect that this agreement might have been why AEHL stock became interesting for investors.