EpicQuest Education Announces Pricing of $3.7 Million Offering

Rhea-AI Summary

EpicQuest Education (NASDAQ: EEIQ), a higher education provider operating in the US, Canada, and UK, has announced a $3.7 million registered direct offering of 5,068,493 ordinary shares at $0.73 per share.

The offering, expected to close around August 26, 2025, will be conducted through FT Global Capital, Inc. as the exclusive placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The securities will be issued under an effective shelf registration statement previously filed with the SEC.

Positive

• None.

Negative

• Share price of $0.73 indicates relatively low valuation
• Potential dilution for existing shareholders
• Additional offering expenses will reduce net proceeds

TOLEDO, Ohio, Aug. 25, 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 entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,068,493 ordinary shares (or pre-funded warrants in lieu thereof) in a registered direct offering at a purchase price of $0.73 per share.

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

The closing of the offering is expected to occur on or about August 26, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be 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 common stock (or pre-funded warrants in lieu thereof) will be 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 proposed registered direct offering will be filed with the SEC and once filed, will be available on the SEC's website located 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, the closing of the offering and 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

What is the size and price of EEIQ's August 2025 offering?

EpicQuest Education announced a $3.7 million offering with 5,068,493 ordinary shares priced at $0.73 per share.

How will EpicQuest Education use the proceeds from the $3.7M offering?

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

When will EEIQ's registered direct offering close?

The offering is expected to close on or about August 26, 2025, subject to customary closing conditions.

Who is the placement agent for EEIQ's 2025 offering?

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

What type of registration is EEIQ using for this offering?

The offering is being conducted under an effective shelf registration statement on Form F-3 (File No. 333-264807), which was declared effective by the SEC on November 4, 2022.