FingerMotion Announces $5.0 Million Registered Direct Offering

Company Overview - FingerMotion, Inc. is a mobile services and data company focused on mobile payment and recharge platform solutions in China, aiming to grow its user base and develop an ecosystem of highly engaged users [5][7]. Offering Details - The company has entered into a definitive securities purchase agreement for the sale of 3,333,336 shares of common stock and warrants to purchase up to 5,000,004 shares at a combined public offering price of $1.50 per share [5]. - The gross proceeds from this offering are expected to be approximately $5.0 million, which will be used for general corporate purposes [3]. Market Position and Strategy - FingerMotion aims to serve over 1 billion users in the China market and plans to expand its model to other regional markets [7]. - The company is developing additional value-added technologies to market to its growing user base, with a vision to enhance user engagement through innovative applications [7]. Regulatory Compliance - The securities are being offered under a "shelf" registration statement previously filed with the SEC, and the offering will be made only by means of a prospectus [6].