Offering sells 181,818 common shares at $0.55 apiece to An Fengbin
By Devika Patel
Knoxville, Tenn., June 11 – Andatee China Marine Fuel Services Corp. completed a $100,000 private placement of stock with An Fengbin on June 10, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 181,818 common shares at $0.55 per share. The price per share is a 25% premium to the $0.44 closing share price on June 9.
Proceeds will be used for general corporate and working capital purposes.
The Dalian, China, company produces and sells blended marine fuel oil for cargo and fishing vessels with operations in China.
| Issuer: | Andatee China Marine Fuel Services Corp.
|
| Issue: | Common stock
|
| Amount: | $100,000
|
| Shares: | 181,818
|
| Price: | $0.55
|
| Warrants: | No
|
| Investor: | An Fengbin
|
| Settlement date: | June 10
|
| Stock symbol: | Nasdaq: AMCF
|
| Stock price: | $0.44 at close June 9
|
| Market capitalization: | $6.77 million
|
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