Shineco Reached Agreement Through Securities Purchase Agreement With Certain Non-U.S. Investors To Sell 1.4M Shares Of Its Common Stock At $5.00/Share In Offering Designed Explicitly For Purchasers Who Are Neither U.S. Residents Nor Defined As "U.S. Persons" Under Rule 902(K) Of Regulation S, Aiming To Raise ~$7.0M In Gross Proceeds Before Customary Expenses.
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Shineco has reached an agreement through a Securities Purchase Agreement with certain non-U.S. investors to sell 1.4 million shares of its common stock at $5.00 per share. This offering is designed explicitly for purchasers who are neither U.S. residents nor defined as 'U.S. Persons' under Rule 902(K) of Regulation S, aiming to raise approximately $7.0 million in gross proceeds before customary expenses.
June 21, 2024 | 1:10 pm
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Shineco (SISI) has entered into a Securities Purchase Agreement to sell 1.4 million shares at $5.00 per share to non-U.S. investors, aiming to raise approximately $7.0 million in gross proceeds.
The sale of 1.4 million shares at $5.00 per share to non-U.S. investors will provide Shineco with approximately $7.0 million in gross proceeds. This capital infusion is likely to be viewed positively by the market as it strengthens the company's financial position.
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