Code Chain New Continent Limited Announces the Closing of $25 Million Registered Direct Offering
Code Chain New Continent Limited (CCNC)
Company Research
Source: PR Newswire
NEW YORK, Feb. 22, 2021 /PRNewswire/ -- Code Chain New Continent Limited (the "Company" or "Code Chain") (NASDAQ: CCNC), a leading eco-technology company, today announced that it closed a previously announced registered direct offering with certain institutional investors, raising approximately $25 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses. The offering consists of the sale of 4,166,666 shares of the Company's common stock, registered warrants to purchase up to an aggregate of 1,639,362 shares of commons stock, and unregistered warrants to purchase up to an aggregate of 2,527,304 shares of common stock, at combined per share purchase price of $6.00.The net proceeds from this offering will be used for working capital and general business purposes. Univest Securities, LLC acted as sole placement agent for this offering. Ortoli Rosenstadt LLP served as counsel to the Company, and Sullivan & Worcester LLP served as counsel to th
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