Axiom Capital, Northland Capital, ViewTrade and I-Bankers will assist
By Devika Patel
Knoxville, Tenn., June 26 – Yulong Eco-Materials Ltd. said it priced its $14.06 million initial public sale of stock with a $2.11 million greenshoe. The deal was announced Dec. 19.
The company will sell 2.25 million ordinary shares at $6.25 per share.
Axiom Capital Management, Inc. is the bookrunner.
Settlement is expected July 1.
Proceeds will be used to complete a recycling plant and brick plant that the company will operate and for general corporate purposes.
The producer of fly-ash bricks and concrete is based in Pingdingshan, China. The company expects its shares will trade on the Nasdaq under the symbol “YECO.”
| Issuer: | Yulong Eco-Materials Ltd.
|
| Issue: | Ordinary stock
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| Amount: | $14,062,500
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| Greenshoe: | $2,109,375, or 337,500 shares
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| Shares: | 2.25 million
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| Price: | $6.25
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| Warrants: | No
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| Bookrunner: | Axiom Capital Management, Inc.
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| Co-managers: | Northland Capital Markets, ViewTrade Securities, Inc. and I-Bankers Inc.
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| Announcement date: | Dec. 19
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| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Stock symbol: | Nasdaq: YECO
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