By Laura Lutz
Des Moines, July 17 - China 3C Group arranged a private placement of stock for $11,735,998, according to an 8-K filing with the Securities and Exchange Commission.
The company agreed to sell 2,095,714 shares at $5.60 each.
Settlement is expected by Aug. 8.
The placement was non-brokered.
The shares in the placement represent about 4% of the company's outstanding stock before the placement.
Based in Zhejiang, China, China 3C is a retailer specializing in communication, information technology and digital products.
| Issuer: | China 3C Group
|
| Issue: | Stock
|
| Amount: | $11,735,998
|
| Shares: | 2,095,714
|
| Price: | $5.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 17
|
| Stock symbol: | OTCBB: CHCG
|
| Stock price: | $7.55 at close July 16
|
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