Investing.com South Africa Market update
LightInTheBox raises $5.49 million in private placement By Investing.com
LightInTheBox Holding Co., Ltd. (NYSE:LITB) successfully completed a private placement, raising approximately $5.49 million in gross proceeds by issuing 21,397,409 ordinary shares. Chairman and CEO Jian He invested $1.09 million in the financing, increasing his beneficial ownership to about 24.1%. The company plans to use the funds to enhance financial flexibility and support its strategic transformation, including investments …