By Devika Patel
Knoxville, Tenn., March 24 - AutoChina International Ltd. will take in $70 million from a registered direct offering of shares, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 2 million common shares at $35.00 per share.
Rodman & Renshaw, LLC and Chardan Capital Markets, LLC are the agents. There is a $10.5 million greenshoe.
Proceeds will be used for general corporate purposes.
The company is based in Hebei, China.
| Issuer: | AutoChina International Ltd.
|
| Issue: | Common shares
|
| Amount: | $70 million
|
| Greenshoe: | $10.5 million
|
| Shares: | 2 million
|
| Price: | $35.00
|
| Warrants: | No
|
| Agents: | Rodman & Renshaw, LLC and Chardan Capital Markets, LLC
|
| Pricing date: | March 24
|
| Stock symbol: | Nasdaq: AUTC
|
| Stock price: | $33.99 at close March 24
|
| Market capitalization: | $325 million
|
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