Trident Digital Tech Holdings Ltd. (NASDAQ: TDTH) closed an $8 million private placement, issuing 20,000,000 Class B ordinary shares at $0.40 per share.
Purchases were made using tether’s USDT and usd coin USDC, according to a securities agreement dated Monday. The offering was structured under exemptions from registration provided by Regulation S and Section 4(a)(2) of the Securities Act of 1933, with shares offered outside the United States as restricted securities.
Following the transaction, Trident now has 28,542,617 Class B ordinary shares issued and outstanding, comprising 8,542,617 shares that were previously outstanding plus the 20,000,000 newly issued shares.
The company said net proceeds will be directed toward establishing a digital assets reserve, working capital, and general corporate purposes. Among specific initiatives, Trident identified funding the rollout of Ghana’s digital tax platform and the IRMA Asia joint venture, alongside broader investments in digital infrastructure, enterprise AI, and government technology projects across Africa and the Asia-Pacific region.
Soon Huat Lim, Trident’s founder, chairman and chief executive officer, said the financing "materially strengthens our balance sheet at an important stage of Trident's transformation into a diversified digital infrastructure and AI holding company," adding that the capital positions the company to execute on the Ghana platform and the IRMA Asia joint venture.
Additional details of the private placement are expected to be included in a Report on Form 6-K to be filed with the U.S. Securities and Exchange Commission.
