SWVL Announces $2 Million Private Placement Priced At-the-Market Under Nasdaq Rules

Core Insights - Swvl Holdings Corp has successfully completed a private placement, raising $2 million through the sale of pre-funded warrants at a price of $4.79 per share, with a lock-up period of 6 months for the purchasers [1][2][3] Group 1: Private Placement Details - The private placement closed on February 7, 2025, and the proceeds will be used for working capital and general corporate purposes, including expansion in the United States [2][3] - This investment follows a previously announced private placement of $4.7 million in November 2024, indicating ongoing investor interest and confidence in Swvl's growth strategy [3] Group 2: Business Developments - Swvl has secured multiple million-dollar contracts in Egypt, Saudi Arabia, and the UAE, and has obtained financing from HSBC to support its sales pipeline [3] - The company is preparing to accelerate its growth and expand its footprint in the United States and the Gulf Cooperation Council (GCC) region [3] Group 3: Company Overview - Swvl is recognized as a leading provider of technology-driven mobility solutions aimed at enhancing transit system efficiency and delivering safer, more reliable, and sustainable transportation options [6]