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    Home»Investing»Asset Entities Inc. secures funding, maintains Nasdaq listing By Investing.com
    Investing

    Asset Entities Inc. secures funding, maintains Nasdaq listing By Investing.com

    August 15, 20242 Mins Read


    Dallas-based software services company Asset Entities Inc. (NASDAQ:ASST) announced on Wednesday that it has successfully maintained the minimum stockholders’ equity required for continued listing on The Nasdaq Capital Market. This follows a recent funding round in which the company issued new shares.

    According to the company’s latest 8-K filing with the Securities and Exchange Commission, Asset Entities Inc. reported stockholders’ equity of $2,097,090 as of June 30, 2024. The filing, dated August 14, 2024, also referenced a previous announcement on July 30, 2024, detailing a Securities Purchase Agreement with Ionic Ventures, LLC. Under the agreement, the company agreed to sell up to 330 shares of its Series A Convertible Preferred Stock for a total of $3,000,000.

    The second tranche of this funding, amounting to 165 shares of Series A Preferred Stock, was completed on July 29, 2024, bringing in $1,500,000 in gross proceeds. The successful closing of this round of funding has brought the company’s stockholders’ equity above the $2,500,000 threshold required by The Nasdaq Capital Market for continued listing.

    The company’s shares of Series A Preferred Stock are convertible into shares of Class B Common Stock, offering potential future value to investors. Asset Entities Inc. operates in the prepackaged software industry under the SIC code 7372 and is incorporated in Nevada.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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