Univest Securities, LLC Announces Closing of US$16.5 Million Registered Direct Offering for its Client China Xiangtai Food Co., Ltd. (Nasdaq: PLIN)
24 Novembro 2021 - 6:40PM
Univest Securities, LLC, a member of FINRA and SIPC, and a
full-service investment bank and securities broker-dealer firm
based in New York, today announced the closing of a previously
announced registered direct offering and concurrent private
placement with certain investors, raising approximately US$16.5
million in gross proceeds, before deducting placement agent fees
and other estimated offering expenses, by its client China Xiangtai
Food Co., Ltd., (the “Company”)(NASDAQ: PLIN), an emerging growth
company engaged in the feed raw material wholesale and retail
business. The offering consists of the sale of 17,175,412 ordinary
shares in a registered direct offering and warrants to purchase
17,175,412 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 was
US$0.96.
The Company plans to use the net proceeds from
the offering for product research and development, marketing and
business development, new business assessment and acquisition,
talent acquisition and training, and working capital and general
business purposes.
Univest Securities, LLC acted as the exclusive
placement agent for this offering. Ortoli Rosenstadt LLP served as
counsel to the Company, and Hunter Taubman Fischer & Li LLC
served as counsel to Univest Securities, LLC in connection with the
Offering.
The sale of the ordinary shares in the
registered direct offering was made pursuant to a shelf
registration statement on Form F-3 (File No. 333-238700),
previously filed with the U.S. Securities and Exchange Commission
(the "SEC") on May 26, 2020, and declared effective on July 7,
2020. A prospectus supplement and the accompanying prospectus
relating to and describing the terms of the registered direct
offering were filed with the SEC on November 23, 2021. 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, 375 Park Avenue, 15th Floor, New York, NY 10022.
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 Univest Securities,
LLC
Registered with FINRA since 1994, Univest
Securities, LLC provides a wide variety of financial services to
its institutional and retail clients globally including brokerage
and execution services, sales and trading, market making,
investment banking and advisory, wealth management. It strives to
provide clients with value-add service and focuses on building
long-term relationship with its clients. For more information,
please visit: www.univest.us.
About China
Xiangtai Food Co., Ltd.
Headquartered in Chongqing, China, China
Xiangtai Food Co., Ltd., through the recent acquisition of
Chongqing Ji Mao Cang Feed Co., Ltd, engages in the feed raw
material and feed formula solutions wholesale and retail business.
For more information, please visit http://ir.plinfood.com/.
Safe Harbor Statements
This 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
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 and Univest undertake 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.
For more information, please
contact:
Univest Securities, LLC
Edric
GuoChief Executive Officer375
Park Avenue #1502New York, NY 10152Phone: (212) 343-8888Email:
info@univest.us
China Xiangtai Food (NASDAQ:PLIN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
China Xiangtai Food (NASDAQ:PLIN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024