Pingtan Marine Enterprise Ltd. Announces $4,750,000 Registered Direct Offering of Ordinary Shares and Warrants
Pingtan Marine Enterprise Ltd. - Ordinary Shares (PME)
NASDAQ:AMEX Investor Relations:
ptmarine.com
Company Research
Source: PR Newswire
FUZHOU, China, March 4, 2021 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan," or the "Company"), a fishing company based in the People's Republic of China, today announced that it has agreed to sell 3,625,954 ordinary shares at a price of $1.31 per share, and 2,719,464 five-year warrants to purchase ordinary shares at an exercise price of $1.31 per share, in a registered direct offering. The net proceeds to Pingtan from this offering are expected to be approximately $4.2 million. The offering is expected to close on or about March 8, 2021, subject to customary closing conditions.Spartan Capital Securities, LLC is acting as sole placement agent for the offering.Pingtan intends to use the net proceeds from this offering for working capital, general corporate purposes and transaction expenses. Pingtan may also use a portion of the net proceeds from the offering to finance acquisitions of, or investments in, competitive and complementary businesses, products or se
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