Deal sells 2,439,025 common shares at $0.41 each to single investor
By Devika Patel
Knoxville, Tenn., June 2 – China Commercial Credit Inc. arranged a $1 million private placement of stock with one investor on May 26, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell 2,439,025 common shares at $0.41 apiece, a 2.38% discount to the closing share price, $0.42, on May 25.
Proceeds will be used for general corporate purposes.
The Wujiang, China, company controls a microcredit company, Wujiang Luxiang, that provides direct loans and loan guarantee services to small-to-medium-sized businesses, farmers and individuals in the city of Wujiang, China.
| Issuer: | China Commercial Credit Inc.
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| Issue: | Common stock
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| Amount: | $1 million
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| Shares: | 2,439,025
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| Price: | $0.41
|
| Warrants: | No
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| Pricing date: | May 26
|
| Stock symbol: | OTCBB: CCCR
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| Stock price: | $0.42 at close May 25
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| Market capitalization: | $7.23 million
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