India, Aug. 20 -- Singularity Future Technology Ltd. (SGLY) shares rose $0.4860, or 16.31 percent, to $3.4660 on Thursday, after the company announced a registered direct offering of 1.56 million shares, or pre-funded warrants, at $3.20 per share.
The stock opened at $4.61 and traded between $3.35 and $5.20 during the session on the Nasdaq. It has traded in a 52-week range of $2.52 to $20.30. Trading volume reached 42.87 million shares, compared with an average daily volume of 0.39 million shares.
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The offering is expected to generate approximately $5.0 million in gross proceeds, which the company plans to use for its planned data centre business. The off...