Singularity Future Technology (SGLY) Prices 700K Share Offering at $1.63/sh

Singularity Future Technology Ltd. (Nasdaq: SGLY) (“Singularity” or the “Company”), today announced that it has entered into securities purchase agreements with several institutional investors to purchase an aggregate of 700,000 shares of the Company’s common stock (the “Common Stock”) in a registered direct offering. The shares of Common Stock are being sold at an offering price of $1.63 per share.

The gross proceeds to the Company from the registered direct offering are estimated to be approximately $1.1 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about January 27, 2025, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The Common Stock is being offered pursuant to a shelf registration statement on Form S-3, as amended (File No. 333-282006), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 24, 2024. The offering will be made only by means of a prospectus supplement that forms a part of such registration statement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the Common Stock will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3500.

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