MDJM completes $6 million public offering

MDJM LTD (NASDAQ: UOKA) announced the completion of its public offering of 4.28 million units at $1.40 per unit, raising approximately $6 million in gross proceeds before underwriting discounts and expenses.

Each unit consists of one Class A ordinary share and one Series A warrant to purchase one Class A ordinary share. The Series A warrants expire one year from issuance and are immediately exercisable at an initial exercise price equal to the public offering price. The exercise price adjusts to 70% on the fourth trading day and 50% on the eighth trading day following the closing, with proportional increases in the underlying shares.

The warrants include a zero cash exercise option allowing holders to exchange each warrant for 1.5 Class A ordinary shares. The underwriter received a 45-day over-allotment option for up to 642,000 additional shares and warrants, partially exercising the option for 642,000 Series A warrants on February 10, 2026.

Maxim Group LLC served as sole book-running manager. The Securities and Exchange Commission declared the registration statement on Form F-1 effective on February 9, 2026, with an additional registration statement becoming effective on February 10, 2026.

MDJM describes itself as a global culture innovation company focused on cultural intellectual property development, animation production, international licensing, and cultural venue operations. The company operates projects in the United Kingdom, including Fernie Castle in Scotland and the Robin Hill Property in England, which are being developed into cultural venues.

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