Company sells 2.76 million common shares at $1.16 apiece to Wei Gong
By Devika Patel
Knoxville, Tenn., Sept. 30 - Tianli Agritech, Inc. said it will raise $3.2 million in a private placement of stock with Wei Gong. It raised $2.6 million on Sept. 28.
The company is selling 2.76 million common shares at $1.16 apiece. The per-share price represents a 43.21% premium to the Sept. 27 closing share price of $0.81. The company sold 2,238,000 shares on Sept. 28.
Proceeds will be used for a portion of the purchase price in the company's planned acquisition of EveryWare Global, Inc.
The Wuhan, China, company breeds and sells hogs.
| Issuer: | Tianli Agritech, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,201,600
|
| Shares: | 2.76 million
|
| Price: | $1.16
|
| Warrants: | No
|
| Investors: | Wei Gong
|
| Announcement date: | Sept. 30
|
| Settlement date: | Sept. 28 (for $2,596,080)
|
| Stock symbol: | Nasdaq: OINK
|
| Stock price: | $0.81 at close Sept. 27
|
| Market capitalization: | $11.42 million
|
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