PME - Pingtan Marine Enterprise prices registered direct offering for $4M

Pingtan Marine Enterprise (PME) slides on a securities purchase agreement to issue and sell, in a registered direct offering 4M of the Company’s Series A convertible preferred shares at a purchase price of $1.00/share and a stated value of $1.10 that are convertible into ordinary shares, for gross proceeds of ~$4M.The net proceeds are expected to be ~$3.43M and will be used for working capital, general corporate purposes and to finance acquisitions of, or investments in, competitive and complementary businesses.The closing date Jan. 8, 2021.PME -4.28% PM to $1.79.

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Pingtan Marine Enterprise prices registered direct offering for $4M