China Xiangtai Food Co., Ltd. Announces Closing of US$16.5 Million Registered Direct Offering
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.
Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the Company, stated, "The Company is very pleased to partner with new investors to finance its continuous efforts to develop its current business and to continue its search for potential new business developments. This financing allows the Company to explore new opportunities in emerging industries/markets to strengthen its competitiveness.”
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
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.
Headquartered in Chongqing, China,
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 undertakes 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. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
Investor Relations Contact
Ms. Tina Xiao, President
Ascent Investor Relations LLC
China Xiangtai Food Co., Ltd