Company sells 1.6 million common shares at $2.20 apiece to Houliang Yu
By Devika Patel
Knoxville, Tenn., June 18 – Tianli Agritech, Inc. arranged a $3.84 million private placement of stock with Houliang Yu on June 6, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal settled on June 18.
The company sold 1.6 million common shares at $2.40 per share. The per-share price represents a 12.68% premium to the June 5 closing share price of $2.13.
Proceeds will be used to pursue accretive M&A opportunities.
The Wuhan, China, company breeds and sells hogs.
| Issuer: | Tianli Agritech, Inc.
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| Issue: | Common stock
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| Amount: | $3.84 million
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| Shares: | 1.6 million
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| Price: | $2.40
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| Warrants: | No
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| Investor: | Houliang Yu
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| Pricing date: | June 6
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| Settlement date: | June 18
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| Stock symbol: | Nasdaq: OINK
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| Stock price: | $2.13 at close June 5
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| Market capitalization: | $43.04 million
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