BAIYU Holdings, Inc. announced that it has entered into a securities purchase agreement to issue 1,200,000 shares at a price of $2.09 per share for the gross proceeds of $2,508,000 on November 16, 2023. The transaction included participation from individual investor, Qianying Yuan.

On the same day, the company amended the terms of the transaction and announced that it has issued 1,000,000 shares of common stock, par value $0.001 per share at a price of $2.09 per share for the gross proceeds of $2,090,000.

On the same day, the company amended the terms of the transaction and announced that it has issued 1,500,000 shares of common stock, par value $0.001 per share at a price of $2.09 per share for the gross proceeds of $3,135,000.