By Sheri Kasprzak
New York, May 10 - China Housing and Land Development, Inc. wrapped a $25,006,979 private placement.
The company issued 9,261,844 shares at $2.70 each to institutional and accredited investors.
The investors received warrants for 2,778,554 shares, exercisable at $4.50 each through May 9, 2012.
Cantor Fitzgerald & Co. was the placement agent.
Proceeds will be used for the acquisition of Xi'an New Land Development Co. Ltd.
Based in Xi'an, China, China Housing develops residential and commercial properties within Xi'an.
| Issuer: | China Housing and Land Development, Inc.
|
| Issue: | Stock
|
| Amount: | $25,006,979
|
| Shares: | 9,261,844
|
| Price: | $2.70
|
| Warrants: | For 2,778,554 shares
|
| Warrant expiration: | May 9, 2012
|
| Warrant strike price: | $4.50
|
| Placement agent: | Cantor Fitzgerald & Co.
|
| Settlement date: | May 9
|
| Stock symbol: | OTCBB: CHLN
|
| Stock price: | $4.75 at close May 9
|
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