Malaysia-based Agape ATP cuts proposed offering by 80% to $10M (AATP)

Malaysian wellness company Agape ATP (OTCPK:AATP) (ATPC), which is seeking to uplist to Nasdaq, has cut its proposed public offering by nearly 80% to $10M.

In its latest filing, Agape said that it is now seeking to offer 1.6M shares priced between $5.50 and $6.50, which would raise around $10M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 240K additional shares to cover any over-allotments.

In a prior filing, Agape said that it was looking to offer 7.7M shares priced in the same range, which would have raised about $46M if priced at the midpoint.

Agape also disclosed that EF Hutton has replaced Prime Number Capital as lead bookrunner. The company intends to uplist its shares to Nasdaq under the symbol ATPC. Shares are currently traded OTC under the symbol AATP.

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