Magic Empire Global Limited (NASDAQ:MEGL) (the "Company") today announced the pricing of a registered direct offering (the "Offering") of 2,678,572 units (each a "Unit") at an offering price of US$1.12 per Unit.

Each Unit consists of one Class A ordinary share of the Company, no par value (each, a "Class A Ordinary Share") and one warrant to purchase one Class A Ordinary Share (or up to nine Class A Ordinary Shares pursuant to the alternative cashless exercise (zero exercise price option) (each, a "Warrant"). Each Warrant will have an exercise price of US$1.12 per Class A Ordinary Share and will be exercisable beginning on the issuance date and ending on the one-year anniversary of the issuance date.

The Company expects to receive aggregate gross proceeds of US$3 million from the Offering, before deducting placement agent commissions and other estimated expenses payable by the Company, excluding the exercise of any Warrant offered.

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