EpicQuest Education Announces Closing of $3.7 Million Offering

Rhea-AI Summary

EpicQuest Education (NASDAQ: EEIQ), a higher education provider operating in the US, Canada, and UK, has successfully closed its registered direct offering of 5,068,494 ordinary shares at $0.73 per share.

The offering, which was exclusively placed by FT Global Capital, Inc., generated gross proceeds of approximately $3.7 million. The company plans to utilize the net proceeds, after deducting placement agent fees and offering expenses, for working capital and general corporate purposes.

The shares were issued through an effective shelf registration statement previously filed with the SEC under Form F-3.

Positive

• Secured $3.7 million in gross proceeds from offering
• Successfully completed registered direct offering with institutional investors

Negative

• Share dilution due to issuance of 5,068,494 new ordinary shares
• Offering price of $0.73 per share indicates potential discount to market value

TOLEDO, Ohio, Aug. 26, 2025 /PRNewswire/ -- EpicQuest Education Group International Limited (NASDAQ: EEIQ), ("EpicQuest Education", "EEIQ" or the "Company"), a provider of higher education for domestic and international students in the US, Canada and the UK, today announced it has closed on its registered direct offering. The Company had entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,068,494 ordinary shares at a purchase price of $0.73 per share.

FT Global Capital, Inc. acted as the exclusive placement agent for the offering.

The gross proceeds from the offering are approximately $3.7 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The ordinary shares were issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No. 333-264807) previously filed with the U.S. Securities and Exchange Commission (the "SEC"), under the Securities Act of 1933, as amended (the "Securities Act"), and declared effective by the SEC on November 4, 2022. A prospectus supplement describing the terms of the offering was filed with the SEC on August 26, 2025, and is available on the SEC website at http://www.sec.gov.

About EpicQuest Education Group International Limited

EpicQuest Education Group International Limited ("EpicQuest Education" or the "Company") provides comprehensive education solutions for domestic and international students seeking university and University degrees in the US, Canada and the UK. The Company owns and operates EduGlobal University, based in British Columbia, Canada, which focuses on English proficiency educational programming for students pursuing academic degrees. The Company operates and is a 70% owner of Davis University, a career training University located in Toledo, Ohio. In addition, the Company has a recruiting relationship with the Miami University Regional campuses, where it maintains residential facilities, a full-service cafeteria, recreational facilities, shuttle buses and an office for the regional campuses that provides study abroad and post-study services for its students; these facilities are not owned, maintained, operated or are a part of Miami University. The Company is also a recruiting agent for the University of the West of Scotland (through The Education Group (London) Ltd) and Coventry University, both of which are located in the UK. EpicQuest Education recently established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio, that will offer international educational programs related to kinesiology and recreation education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to organize sports-related entertainment projects, which is 40% owned by Gilmore. For more information, please visit www.epicquesteducation.com.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include, without limitation, statements regarding the use of the proceeds from the offering. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our most recent Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contacts:

EpicQuest Education Group International Limited
+1 513-649-8350
info@epicquesteducation.com 

Investor Relations:
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

Source: EpicQuest Education Group International Limited

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SOURCE EpicQuest Education Group International Limited

FAQ

How much did EpicQuest Education (EEIQ) raise in its August 2025 offering?

EpicQuest Education raised $3.7 million in gross proceeds through a registered direct offering of ordinary shares.

What is the price per share for EEIQ's 2025 offering?

The offering price was set at $0.73 per share for 5,068,494 ordinary shares.

How will EpicQuest Education use the proceeds from its 2025 offering?

The company plans to use the net proceeds for working capital and general corporate purposes.

Who was the placement agent for EEIQ's August 2025 offering?

FT Global Capital, Inc. acted as the exclusive placement agent for the offering.

How many shares did EpicQuest Education (EEIQ) issue in the August 2025 offering?

EpicQuest Education issued 5,068,494 ordinary shares in the registered direct offering.