By Devika Patel
Knoxville, Tenn., Sept. 15 - China Wind Systems, Inc. completed a $1.1 million private placement of series A convertible preferred stock on Sept. 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1.1 million preferreds to Barron Partners LP. Each preferred is convertible into one common share.
The diversified company is based in Wuxi City, China.
| Issuer: | China Wind Systems, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $1.1 million
|
| Preferreds: | 1.1 million
|
| Conversion ratio: | Into one common share
|
| Warrants: | No
|
| Investors: | Barron Partners LP
|
| Settlement date: | Sept. 15
|
| Stock symbol: | OTCBB: CWSI
|
| Stock price: | $1.37 at close Sept. 14
|
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