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0.00689655172413794 0.00689655172413794 0.00689655172413794 0.00689655172413794 0.00344827586206905 1.53134210293125E-16 -0.00344827586206889 -0.0172413793103448
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Wecast Raises $2 million USD in Private Placement

WECAST NETWORK INC (WCST)  More Company Research Source: PR Newswire
US:NASDAQ Investor Relations: corporate.wecastnetworkinc.com
PDF NEW YORK, May 25, 2017 /PRNewswire/ -- Wecast Network, Inc. (NASDAQ: WCST) ("Wecast" or the "Company" or "WCST")"Company"), announced today that the Company has entered into a Subscription Agreement ("SA") for the sale of 727,273 common shares of its common stock to certain investors, officers & directors and affiliates ("Investors") in a private placement that grossed and netted $2 million USD to the Company.Investors in the private placement include (but are not limited to) Ms. Lan Yang, the wife of Chairman Bruno Wu, and separately, China Telenet Ventures Limited, a vehicle owned and controlled by Mr. Sean Wang, a Wecast Board Director.Pursuant to the terms of the SA, which was filed with the U.S. Securities and Exchange Commission on May 25, 2017 by Wecast in its current report on Form 8-K, the Company has agreed to sell and issue 727,273 shares of the Company's common stock for $2.75 per share.  The $2.75 share price represents the closing bid price on May 19, 2017, the day Wecas [Read more]

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