China Xiangtai Food Co., Ltd. Announces Pricing of US$16 Million Registered Direct Offering and Concurrent Private Placement
31 Gennaio 2022 - 2:00PM
China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("China Xiangtai"
or the "Company"), an emerging growth company engaged in
agricultural business with a diversified expansion strategy, today
announced that it entered into a securities purchase agreement with
certain investors to sell up to US$16,130,716 of its ordinary
shares in a registered direct offering and ordinary share purchase
warrants in a concurrent private placement.
Under the terms of the securities purchase
agreement, the Company has agreed to sell 18,124,400 ordinary
shares in a registered direct offering and warrants to purchase
18,124,400 ordinary shares in a concurrent private placement
pursuant to an exemption from the registration requirements of the
Securities Act of 1933 provided in Regulation S promulgated
thereunder. The warrants will be exercisable 60 days from the date
of issuance and have an exercise price of US$1.008. The warrants
will expire five years from the date of issuance. The purchase
price for one ordinary share and one corresponding warrant will be
US$0.89. The gross proceeds to the Company are estimated to be
US$16,130,716 before deducting placement agent fees and other
estimated offering expenses. The Company plans to use the net
proceeds from the offering for new business assessment and
acquisition, product research and development, marketing and
business development, and working capital and general business
purposes.
The registered direct offering and the
concurrent private placement are expected to close on or about
February 2, 2022, subject to satisfaction of customary closing
conditions.
Univest Securities, LLC is acting as the
exclusive placement agent for this offering. Ortoli Rosenstadt LLP
serves as counsel to the Company, and Hunter Taubman Fischer &
Li LLC serves as counsel to Univest Securities, LLC in connection
with the offering.
The sale of the ordinary shares in the
registered direct offering is being made pursuant to a shelf
registration statement on Form F-3 (File No. 333-238700), filed
with the U.S. Securities and Exchange Commission (the "SEC") on May
26, 2020, and declared effective on July 7,2020. Such securities
are being offered only by means of a prospectus. A prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the registered direct offering will be
filed with the SEC. When available, copies of the prospectus
supplement and the accompanying prospectus relating to the
registered direct offering may be obtained at the SEC's
website www.sec.gov or by contacting Univest Securities, LLC
by email at info@univest.us or standard mail to Univest
Securities, LLC, 75 Rockefeller Plaza Suite 1838, New York, NY
10019.
Before investing in this offering, interested
parties should read in their entirety the prospectus supplement and
the accompanying prospectus and the other documents that the
Company has filed with the SEC that are incorporated by reference
in such prospectus supplement and the accompanying base prospectus,
which provide more information about the Company and such offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About China
Xiangtai Food Co.,
Ltd.China Xiangtai Food Co., Ltd.,
engages in agricultural business. The Company is actively deploying
emerging technologies including crypto asset mining and blockchain
technologies with diversified expansion strategy. The current
operations are in the United
States, Canada and China. For more information,
please visit https://irplin.com.
Safe Harbor StatementsThis
announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact in this announcement are forward-looking
statements. These forward-looking statements, including the closing
of the offering, involve known and unknown risks and uncertainties
and are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy,
and financial needs. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results.
Company ContactChina Xiangtai Food Co.,
Ltd.Erick W. RengifoPhone:
+1-347-556-4747Email: ir@irplin.com
Investor Relations ContactMs. Tina Xiao,
PresidentAscent Investor Relations LLCPhone:
+1-917-609-0333Email: tina.xiao@ascent-ir.com
Grafico Azioni China Xiangtai Food (NASDAQ:PLIN)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni China Xiangtai Food (NASDAQ:PLIN)
Storico
Da Giu 2023 a Giu 2024