- Shineco (NASDAQ:SISI) on Monday announced that on June 20, 2024, it entered into a securities purchase agreement with certain non-U.S. investors.
- Pursuant to the agreement, the company will issue up to 1.4M shares of its common stock to the purchasers in a private placement financing transaction at an offering price of $5.00 per share.
- The gross proceeds of the offering are expected to be about $7M before the deduction of customary expenses.
- The offering is expected to close, and the shares are expected to be issued, on or about July 31, 2024.
- The company plans to use the proceeds from this offering for working capital and general corporate purposes.
- Press release.
2024-06-24