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home / news releases / CBAT - CBAK Energy launches $70M stock offering


CBAT - CBAK Energy launches $70M stock offering

CBAK Energy Technology ([[CBAT]] -8.1%) opens sharply lower after announcing a $70M registered direct placement of ~$70M in common stock priced at $7.83/share.CBAK says it plans to use the proceeds to further accelerate its business plan, repay some outstanding debts and fund any additional working capital needs.Two months ago, CBAK launched a previous registered direct placement of $49.2M of common stock at $5.18/share.

For further details see:

CBAK Energy launches $70M stock offering
Stock Information

Company Name: CBAK Energy Technology Inc.
Stock Symbol: CBAT
Market: NASDAQ
Website: cbak.com.cn

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