By Sheri Kasprzak
New York, May 31 - China Ivy School, Inc. entered into a $13 million standby equity distribution agreement with five investors.
Nation City Investments Ltd., Innovation Gaining Investments Ltd., Arjuno Investments Ltd., Billion Hero Investments Ltd. and Even Bright Investments Ltd. agreed to buy up to 20 million shares in the fixed-price equity agreement.
The company will sell up to 20 million shares at $0.65 each.
The agreement has a term of one year.
Based in Shenzhen, China, China Ivy is a private education institution.
| Issuer: | China Ivy School, Inc.
|
| Issue: | Standby equity distribution agreement
|
| Amount: | $13 million
|
| Tenor: | One year
|
| Shares: | 20 million
|
| Price: | $0.65
|
| Investors: | Nation City Investments Ltd., Innovation Gaining Investments Ltd., Arjuno Investments Ltd., Billion Hero Investments Ltd., Even Bright Investments Ltd.
|
| Settlement date: | May 29
|
| Stock symbol: | OTCBB: CIVY
|
| Stock price: | $1.01 at close May 29
|
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