Spartan Capital Securities, LLC facilitated a registered direct offering for Multi Ways Holdings Limited, a major heavy construction equipment supplier in Singapore. The second tranche included 9,000,000 ordinary shares priced at $0.165 per share and warrants for 9,000,000 shares, raising $1,485,000. Combined with the first tranche, total gross proceeds amounted to $2,970,000. Each warrant is exercisable at $0.198 per share for five years. Multi Ways plans to use the funds for general purposes. The offering was made under an effective registration statement. Multi Ways Holdings operates across Asia-Pacific, offering equipment sales and rental services.

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