Company sells 14 million common shares at $0.50 per share in offering
By Devika Patel
Knoxville, Tenn., March 21 - China Xuefeng Environmental Engineering Inc. completed a $7 million private placement of stock on March 19, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 14 million common shares at $0.50 per share, which is an 83.82% discount to the March 18 closing share price of $3.09.
The Jiangsu Province, China, company provides improvement and upgrading services of garbage recycling processing technology and equipment.
| Issuer: | China Xuefeng Environmental Engineering Inc.
|
| Issue: | Common stock
|
| Amount: | $7 million
|
| Shares: | 14 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Settlement date: | March 19
|
| Stock symbol: | OTCBB: CXEE
|
| Stock price: | $3.09 at close March 18
|
| Market capitalization: | $130.19 million
|
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