By LLuvia Mares
New York, Dec. 12 - Wonder Auto Technology, Inc. announced Wednesday it pocketed $25.9 million from a private placement of stock.
The company sold 3 million shares at $8.65 per share to a group of institutional investors. No warrants were issued in the deal.
The offering is expected to close on Dec. 13.
Piper Jaffray & Co. was the placement agent in the transaction.
The company expects to use proceeds toward working capital and general corporate purposes.
Liaoning, China-based Wonder Auto designs, develops, manufactures and sells automotive electrical parts and suspension products.
Issuer: Wonder Auto Technology, Inc.
Issue: Stock
Amount: $25.9 million
Shares: 3 million
Price: $8.65
| Warrants: | No
|
| Placement agent: | Piper Jaffray & Co.
|
| Announcement date: | Dec. 12
|
| Settlement date: | Dec. 13
|
| Stock symbol: | Nasdaq: WATG
|
| Stock price: | $9.45 at close Dec. 11
|
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