Decent Holding (DXST) said Monday it has closed a direct offering of 822,828 Class A shares, or pre-funded warrants in lieu, to an institutional investor at $1.50 a share, raising about $1.23 million.

The firm said it issued warrants to buy up to 822,828 Class A shares with an exercise price of $1.50 per share in a concurrent private placement.

The company said it plans to use the net proceeds for working capital and general corporate purposes.