By Devika Patel
Knoxville, Tenn., Jan. 7 - China Information Security Technology, Inc. said it arranged a $10.16 million registered direct offering of stock.
The company will sell 1,652,033 common shares at $6.15 apiece, along with warrants for 813,008 shares.
The warrants are exercisable at $6.15 for 45 days.
Rodman & Renshaw, LLC is the agent.
Settlement is expected Jan. 12.
Proceeds will be used for general corporate purposes.
China Information Security Technology is a Shenzhen, China-based application software developer, systems integrator and Geographic Information Systems solutions provider.
| Issuer: | China Information Security Technology, Inc.
|
| Issue: | Common stock
|
| Amount: | $10,160,003
|
| Shares: | 1,652,033
|
| Price: | $6.15
|
| Warrants: | For 813,008 shares
|
| Warrant expiration: | 45 days
|
| Warrant strike price: | $6.15
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Stock symbol: | Nasdaq: CPBY
|
| Stock price: | $6.21 at close Jan. 6
|
| Market capitalization: | $296 million
|
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