Recon Technology arranges $10 million at-the-market offering of stock

Maxim Group assists in raising funds for general corporate purposes

By Devika Patel

Knoxville, Tenn., May 14 – Recon Technology, Ltd. negotiated a $10 million “at-the-market” offering of its ordinary stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.

Maxim Group LLC is the agent and will be paid a 3.5% commission.

Proceeds will be used for working capital and other general corporate purposes including acquisitions.

The Beijing company provides hardware, software, and on-site services to the petroleum mining and extraction industry in China.

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