In connection with the offering, the Company will issue 862,097 registered shares of common stock at a purchase price of
Rodman & Renshaw, a unit of
The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) will be offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3, which was filed with the
The warrants and the shares of common stock underlying the warrants to be issued in the offering have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock underlying the warrants may not be offered or sold in
The net proceeds to the Company from the transaction, after deducting the placement agent’s fees and paying estimated offering expenses, is expected to be approximately $2,405,500. The Company intends to use the net proceeds from the transaction to fund working capital and other general corporate purposes.
The above summary of the terms of the purchase agreement and warrants, and the general terms of this offering, does not purport to be complete and is qualified in its entirety by the form of transaction documents filed on a Current Report on Form 8-K, filed on April 13, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About
Safe Harbor Statement
Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended
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Email: skypeople_annie@163.com |
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