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Article: American Lorain Announces $12 Million Private Placement.
- Article from:
- PR Newswire
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JUNAN COUNTY, China, Oct. 29 /PRNewswire-Asia-FirstCall/ -- American Lorain Corporation, an international processed foods company based in Shandong Province, People's Republic of China, announced today that it has agreed to sell approximately 5 million shares of its Common Stock at a price of $2.40 per share (approximately $12 million in the aggregate) to several accredited investors in a private placement transaction. The transaction will include Series A warrants to purchase approximately 1.7 million additional shares of common stock at an exercise price of $3.70 per share. The Series A warrants will be exercisable six months after the closing of the transaction, and ...