iFresh Announces Completion of $2.5 Million Private Placement Financing
iFresh Inc. (IFMK)
US:NASDAQ Investor Relations:
investors.ifreshmarket.com/investor-relations
Company Research
Source: GlobeNewswire
NEW YORK, April 06, 2020 (GLOBE NEWSWIRE) -- iFresh, Inc. ("iFresh" or the “Company") (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, announced today that it has completed a private placement financing with two individual investors, bringing gross proceeds of approximately $2.5 million from the sales of an aggregate of 1,783,167 shares of common stock of the Company at a per share price of $1.402. Mr. Long Deng, Chief Executive Officer and Chairman of iFresh commented: “We are pleased to be able to close this private placement financing amid weak market conditions due to the global COVID-19 pandemic. We expect that the net proceeds from this financing will be used for our face-mask import business by funding the purchase of raw materials, as well as general working capital purposes.” “Following the most recent health officials’ guidance, the New York City Mayor and the San Francisco Mayor have urged their residents to wear face coverings to
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