- Greenland Technologies ( NASDAQ: GTEC ) enters agreement with a single institutional investor for the purchase and sale of 1.25M ordinary shares and pre-funded warrants to purchase up to 398,974 shares at a price of $4.17 per share in a registered direct offering.
- Company also agreed to issue to the investor units to purchase pre-funded warrants to purchase up to 616,026 ordinary shares and warrants to purchase 4.53M shares at $4.49 per share.
- Aggregate gross proceeds of both transactions are expected to be ~$10M
- Closing expected July 27, 2022.
- Stock stumbles 12% during pre-market
For further details see:
Greenland Technologies dips 12% on $10M direct offering