By Devika Patel
Knoxville, Tenn., Jan. 7 - Energroup Holdings Corp. said it raised $17 million in a private placement of stock.
The company sold 3,863,636 common shares on Dec. 31.
Pinnacle China Fund, LP was the lead investor.
Energroup also said it acquired all of the issued and outstanding capital stock of Precious Sheen Investments Ltd., the parent company of China-based Dalian Chuming, a pork processing company, on Dec. 31. The acquisition was accomplished through a share exchange in which the former Precious Sheen Investments shareholders were issued a controlling stake in Energroup.
Based in Argyle, Texas, Energroup does not have significant operations. Previously, the company, then known as Energroup Technologies Corp., manufactured interfacing devices used in microprocessors-based control systems for heating, ventilation and air conditioning systems.
| Issuer: | Energroup Holdings Corp.
|
| Issue: | Common shares
|
| Amount: | $17 million
|
| Shares: | 3,863,636
|
| Warrants: | No
|
| Investor: | Pinnacle China Fund, LP (lead)
|
| Announcement date: | Jan. 7
|
| Settlement date: | Dec. 31
|
| Stock symbol: | OTCBB: ENHD
|
| Stock price: | $7.50 at close Jan. 4
|
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