Deal with company executives sells 798,000 shares at $4.0345 per share
By Devika Patel
Knoxville, Tenn., April 20 – e-Future Information Technology Inc. said it completed a $3.22 million private placement of stock on April 13. The deal priced on April 8.
The company sold 798,000 ordinary shares at $4.0345 apiece. The price per share is a 0.63% discount to the April 7 closing share price of $4.06 and also represents the average closing price of the stock for the 20 trading days ended on and including April 8, the company said in a press release.
Investors included company executives Adam Yan, David Ren and Ping Yu.
Proceeds will be used for general business operations.
Beijing-based e-Future provides software and mobile social shopping services to retailers in China.
| Issuer: | e-Future Information Technology Inc.
|
| Issue: | Ordinary shares
|
| Amount: | $3,219,531
|
| Shares: | 798,000
|
| Price: | $4.0345
|
| Warrants: | No
|
| Investors: | Adam Yan, David Ren, Ping Yu
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Stock symbol: | Nasdaq: EFUT
|
| Stock price: | $4.06 at close April 7
|
| Market capitalization: | $17.59 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
