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.
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Issue: | Common stock
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Amount: | $10,160,003
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Shares: | 1,652,033
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Price: | $6.15
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Warrants: | For 813,008 shares
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Warrant expiration: | 45 days
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Warrant strike price: | $6.15
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Agent: | Rodman & Renshaw, LLC
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Pricing date: | Jan. 7
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Settlement date: | Jan. 12
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Stock symbol: | Nasdaq: CPBY
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Stock price: | $6.21 at close Jan. 6
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Market capitalization: | $296 million
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