MDJM announces $2.5 million registered direct offering

MDJM LTD (NASDAQ: UOKA) announced it will sell 24.6 million Class A ordinary shares to institutional investors in a registered direct offering priced at $0.1015 per share.

The Scotland-based cultural innovation company expects to receive approximately $2.5 million in gross proceeds before deducting placement agent fees and other offering expenses. The offering is scheduled to close on or about March 2, 2026, subject to customary closing conditions.

Maxim Group LLC serves as the sole placement agent for the transaction. The shares are being offered under a shelf registration statement on Form F-3 that was declared effective by the Securities and Exchange Commission on March 6, 2023.

MDJM operates as a global culture innovation company focused on cultural intellectual property development, animation production, international licensing, and cultural venue operations. The company is developing projects in the UK, including Fernie Castle in Scotland and the Robin Hill Property in England, which are being converted into cultural venues featuring dining, hospitality, art exhibitions, and cultural events.

The company is working with architectural firm Kengo Kuma & Associates on renovation planning for Fernie Castle and collaborating with European animation studios to develop animated short films combining Eastern themes with Western artistry.

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