DALLAS, July 30, 2024 (GLOBE NEWSWIRE) -- Asset Entities Inc. ("Asset Entities" or "the Company") (NASDAQ:ASST), a provider of digital marketing and content delivery services across Discord and other social media platforms, and a Ternary Payment Platform company, today announced it has completed the second closing of its financing transaction involving the sale of shares of the Company's newly designated Series A Convertible Preferred Stock, $0.0001 par value per share, for gross proceeds of $1.5 million, from an institutional investor, for a total of $3.0 million from sales of the Series A Preferred Stock to the investor. This is the second closing of a transaction with the institutional investor. The first closing was held on May 24, 2024 in which the Company received gross proceeds of $1.5 million. Today's second closing brings the total gross proceeds to $3.0 million. The shares of Series A Preferred Stock have an initial stated value of $10,000 per share, and are convertible into shares of the Company's Class B Common Stock, $0.0001 par value per share, at an initial conversion price of $3.75, subject to alternate conversion prices which are at variable rates, and subject to other terms and conditions, as previously reported in current reports on Form 8-K filed by the Company with the Securities and Exchange Commission. Other details of the financing are ...