Yoshitsu Co., Ltd. Announces Pricing of $4.0 Million Registered Direct Offering and Private Placement
Tokyo, Japan, Jan. 26, 2024 (GLOBE NEWSWIRE) — Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq:TKLF), a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products, as well as other products in Hong Kong, mainland China, Japan, North America, and the United Kingdom, today announced that it has entered into securities purchase agreements with certain institutional investors providing for the issuance of 5,970,152 American Depositary Shares (“ADSs”), at a purchase price of $0.67 per ADS, in a registered direct offering. In a concurrent private placement, the Company also agreed to sell to the same investors ADS purchase warrants. Aggregate gross proceeds to the Company for both transactions are expected to be approximately $4,000,000. The warrants have an exercise price of $0.67 per ADS, are exercisable immediately, and will expire 5.5 years following the date of issuance.