AGM Group (AGMH) said late Friday it entered into a securities purchase agreement with an institutional investor for the issue and sale of common shares for gross proceeds of up to $25 million.

Under the two-year equity line of credit facility agreement, the company issued a five-year warrant to the investor to buy 608,777 common shares at an exercise price of $2.4639 apiece, according to a statement.

Proceeds from any sales of common shares under the credit facility could be used for general corporate purposes, the company said.