On July 8, IMTE’s stock was at $3.51. However, this week’s price is gaining momentum: today it is at $5, resulting in a 42% boost. The Company recently announced that it entered into three (3) Securities Purchase Agreements with three accredited investors for the total sale of 888,888 of the Company’s ordinary shares of no par value at a price of US $ 3.15 per share. The total amount of the money supply is USD 2,800,000. The company intends to use the net cash from the cash offers to purchase equipment for its electronic glass business and working capital.
Integrated Media Technology Limited develops, sells, and distributes 3D autostereoscopic display (ASD) technology products and services in Hong Kong, China, Korea, Singapore, and Australia. The company focuses on the marketing and sale of autostereoscopic display (ASD) products; ASD technology displays and marvel3DPro super-workstations; lenticular hardware and switchable lenticular hardware products; ASD digital signage displays; switchable glass products; Internet of Things products; and nano-coating pleated air filters.
The offer is in accordance with the Company’s F-3 Shelf Registration Statement (File No. 333-227741) filed with the Securities and Exchange Commission (“SEC”) on October 9, 2018, and announced effective by the SEC on October 19 2018 Ordinary Shares are only offered in the United States through a prospectus supplement. The prospectus annex and accompanying prospectus pertaining to the registered direct offering are expected to be filed with the Securities and Exchange Commission on July 7, 2021.
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