New Issue: China Tel Group to pocket $640 million in private placements of shares

By Devika Patel

Knoxville, Tenn., Feb. 9 - China Tel Group, Inc. arranged two private placements of stock on Feb. 9 to raise $640 million, according to an 8-K filed Tuesday with the Securities and Exchange Commission. It has already taken in $2 million in this deal.

The company will sell 159,599,803 series A common shares to Excel Era Ltd. for $480 million and 53,199,934 shares to Isaac Organization, Inc. for $160 million.

ChinaTel is an Irvine, Calif.-based high-speed wireless broadband and telecommunications infrastructure engineering and construction services company.

Issuer:	China Tel Group, Inc.
Issue:	Series A common stock
Amount:	$640 million
Shares:	212,799,737
Warrants:	No
Investors:	Excel Era Ltd. (for for $480 million), Isaac Organization, Inc. (for $160 million)
Pricing date:	Feb. 9
Settlement date:	Feb. 9 (for $2 million)
Stock symbol:	OTCBB: CHTL
Stock price:	$1.20 at close Feb. 8
Market capitalization:	$258 million

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