Greenland Technologies Closes $7.0 Million Underwritten Public Offering of Ordinary Shares

About this update from Greenland Technologies Holding Corporation

[{"type":"text","content":"EAST WINDSOR, N.J., June 30, 2021 /PRNewswire/ -- Greenland Technologies Holding Corporation (NASDAQ: GTEC) (\"Greenland\" or the \"Company\"), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced the closing of an underwritten public offering with gross proceeds to the Company of approximately $7.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The public offering equates to 857,844 of the Company's ordinary shares at a price of $8.16 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.\n\n \n \n \n \n \n \n\n \nThe Company has also granted the underwriter a 45-day option to purchase up to an additional 15% of the number of ordinary shares offered in the public offering to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $8.0 million, if the over-allotment option is exercised in full.\nAegis Capital Corp. acted as the sole book-running manager for the offering.\nThis offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-256509) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on June 7, 2021. A final prospectus supplement and accompanying prospectus describing the terms of the Offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010.\nThis 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.\nAbout Greenland Technologies Holding Corporation\nGreenland Technologies Holding Corporation (NASDAQ: GTEC) is a developer a...

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