NEW YORK and KUALA LUMPUR, Malaysia, Aug. 16, 2024 (GLOBE NEWSWIRE) - Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading technology solutions provider, today announced that it has submitted a request to withdraw its S-1 Registration Statement originally filed with the U.S. Securities and Exchange Commission (SEC) on July 26, 2024.
The Registration Statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the Registration Statement.
This strategic move is in response to current market conditions, including recent declines in the Company's share prices. Withdrawing the S-1 Registration Statement aligns with the Company's ongoing strategic direction and reflects a broader effort to protect shareholder value and better pursue initiatives that will support the Company's growth over the long term.
“We have been prompted to reassess our approach, and we believe that withdrawing the S-1 Registration Statement is the most prudent course of action given the current market environment. Our management team is as committed as ever to pivot in response to these challenges,” said Carlson Thow, CEO of Treasure Global. “We are actively evaluating alternative funding and strategic options. Our focus is now on refining our business strategy that aligns with our vision of positioning the Company for an accelerated growth trajectory. We remain committed to enhancing shareholder value and are confident in our strategy moving forward.”
About Treasure Global Inc:
Treasure Global is a leading Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed the ZCITY Super App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards. As of August 9, 2024, ZCITY Super App boasts over 2.7 million registered users.
For more information, please visit https://treasureglobal.co.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of the coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For further information, please contact:
Investor and Media Contact
ir_us@treasuregroup.co
-
Treasure Global Inc Announces Request to Withdraw S-1 Registration StatementNEW YORK and KUALA LUMPUR, Malaysia, Aug. 16, 2024 (GLOBE NEWSWIRE) - Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a l2024-08-19
-
人才随着产业走 | 万博商务区新兴产业聚集,成为青年人才乐园在全国统一大市场加速建设的背景下,各类要素加速流动,城市之间的竞争也进一步加剧。城市要谋求发展、闯出新路,关键是在于如何吸引、培养和留住人才,以创新驱动发展。2024-08-19
-
Winvest Group Limited Subsidiary IQI Media Announces It Has Agreed to Acquire All Rights to Winnie-tRENO, Nev., Aug. 16, 2024 (GLOBE NEWSWIRE) - Winvest Group Limited (OTC: WNLV) ("Winvest"), an investment holding company with diverse media and enter2024-08-19
-
EF海外游学留学,引领熟龄游学市场发展(2024年8月19日,上海)当终身教育已经成为了一种潮流,50+的熟龄人群,已经不再满足于国内一课难求的老年大学,而把视野投向了海外更广阔的学习天地。海外游学,不再仅仅是青2024-08-19
-
低价“内卷”时代,不打价格战的天书谷时间臻水凭实力突围《2023年包装饮用水行业发展趋势白皮书》指出,近年来,中国包装饮用水市场始终保持增长态势,预计至2025年该市场将突破3100亿大关。在千亿瓶装饮用水市场中,品牌竞争态2024-08-19