EpicQuest Education Secures $3.7 Million in Registered Direct Offering for Working Capital and General Corporate Purposes.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) has priced a $3.7 million registered direct offering, selling 5,068,493 ordinary shares at $0.73 each. The offering is expected to close by August 26, 2025, with proceeds to support working capital and general corporate purposes. FT Global Capital, Inc. is the exclusive placement agent for this transaction.

EpicQuest Education Group International Limited (NASDAQ: EEIQ) has priced a $3.7 million registered direct offering, selling 5,068,493 ordinary shares at $0.73 each. The offering is expected to close by August 26, 2025, with proceeds to support working capital and general corporate purposes. FT Global Capital, Inc. is the exclusive placement agent for this transaction [1][2].

EpicQuest Education, a provider of higher education for domestic and international students in the US, Canada, and the UK, entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,068,493 ordinary shares or pre-funded warrants in a registered direct offering. The common stock or pre-funded warrants will be issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 previously filed with the U.S. Securities and Exchange Commission (SEC) [2].

The company plans to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on or about August 26, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $3.7 million before deducting placement agent fees and other offering expenses payable by the Company [1][2].

EpicQuest Education Group International Limited owns and operates EduGlobal University, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The company also operates and is a 70% owner of Davis University, a career training University located in Toledo, Ohio. Additionally, EpicQuest Education has recruiting relationships with Miami University Regional campuses, the University of the West of Scotland, and Coventry University [2].

The company recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. Another subsidiary, SouthGilmore LLC, has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore [2].

References:
[1] https://www.nasdaq.com/articles/epicquest-education-secures-37-mln-registered-direct-offering
[2] https://www.marketscreener.com/news/epicquest-education-announces-pricing-of-3-7-million-offering-ce7c50d8db89f221