Shineco Enters Into Securities Purchase Agreement With Gross Proceeds Of $7.0M; Will Issue Up To 1.4M Shares At $5.00/Share
Portfolio Pulse from Benzinga Newsdesk
Shineco has entered into a securities purchase agreement with gross proceeds of $7.0 million. The company will issue up to 1.4 million shares at $5.00 per share.
June 24, 2024 | 1:07 pm
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Shineco has entered into a securities purchase agreement with gross proceeds of $7.0 million, issuing up to 1.4 million shares at $5.00 per share.
The issuance of new shares at a set price of $5.00 per share will provide Shineco with $7.0 million in gross proceeds. This capital infusion is likely to be viewed positively by investors as it strengthens the company's financial position.
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