Nasdaq has confirmed that Connexa Sports Technologies, the parent company of Slinger Bag, has again met Nasdaq’s minimum equity requirements with three non-US companies investing $16.5 million in the company, whereby Connexa sold 2,330,200 shares and warrants for an additional 25,169,800 shares.
The investments came from Hong Kong-based Andy and Lion Co. Ltd and mainland China-based Junjie Enterprise Management Co. Ltd and Xinsheng Enterprise Management Services Co. Ltd.
Connexa shares doubled to more than $0.50 on the news but are still more than 99 percent below the level of its first days as a public company.
