By Sheri Kasprzak
New York, Sept. 14 - China BAK Battery, Inc. said it has received definitive agreements for a $43.45 million private placement.
The company sold 7.9 million shares at $5.50 each to a group of institutional investors.
The offering is scheduled to close on Sept. 16.
Based in Dallas, China BAK manufactures lithium ion batteries out of offices based in Shenzhen, China.
| Issuer: | China BAK Battery, Inc.
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| Issue: | Stock
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| Amount: | $43.45 million
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| Shares: | 7.9 million
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| Price: | $5.50
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| Warrants: | No
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| Announcement date: | Sept. 14
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| Settlement date: | Sept. 16
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| Stock price: | $7.20 at close Sept. 14
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