Tri-Tech Holding Announces Pricing of $30 Million Follow-On Public Offering
BEIJING, April 15 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading solutions provider to China’s water resources, municipal wastewater and industrial pollution control markets, today announced that the Company priced a public offering of 2,142,750 ordinary shares at an offering price of $14.00 per share. Newbridge Securities Corporation and Brean Murray, Carret & Co. acted as co-lead and joint book-running managers of the offering.
Tri-Tech expects gross proceeds of approximately $30 million, prior to the exercise of the underwriters’ 30-day over-allotment option to purchase an additional 321,412 shares. Tri-Tech expects to use the net proceeds of the offering for working capital, acquisitions, as well as new product development and sales and marketing. The offering is expected to close on April 20, 2010, subject to customary closing conditions.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer will be made only by means of a prospectus, including prospectus supplement, forming a part of the effective registration statement.
Tri-Tech Holding Inc. has based these forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.