Greenland Technologies Holding Corporation Announces Closing of $10 Million Registered Direct and Private Placement Offerings

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[{"type":"text","content":"EAST WINDSOR, N.J., July 27, 2022 /PRNewswire/ -- Greenland Technologies Holding Corporation (\"GTEC\" or the \"Company\") (Nasdaq: GTEC), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced the closing of its previously announced registered direct offering and concurrent private placement with a single institutional investor. The company issued 1,250,000 ordinary shares and pre-funded warrants to purchase up to 398,974 ordinary shares at a purchase price of $4.17 per share in a registered direct offering. The purchase price for the pre-funded warrants was identical to the purchase price for shares, less the exercise price of $0.001 per share.\n\n \n \n \n \n \n \n\n \nIn the concurrent private placement, the Company also issued and sold to the investor units to purchase pre-funded warrants to purchase up to 616,026 ordinary shares and common warrants to purchase 4,530,000 ordinary shares at an exercise price of $4.49 per share. The purchase price for each unit was $5.089, with an exercise price per pre-funded warrant of $0.001 per share. The common warrants will have a 5.5-year term from the date of issuance. The transactions resulted in aggregate gross proceeds to the Company of approximately $10.0 million.\nAegis Capital Corp. acted as the Exclusive Placement Agent.\nThe registered direct 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 proposed offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010.\nThe offer and sale of the securities in the private placement are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the \"Securiti...

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