Business
ZK International Group Co., Ltd. and The CF Opportunity Fund Complete the Second Tranche of the $5 Million Financing Priced at $1.58 per Share
WENZHOU, China, Feb. 20, 2024 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN," "ZK International" or the "Company"), a leading
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, Feb. 20, 2024 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) (\"ZKIN,\" \"ZK International\" or the \"Company\"), a leading provider of advanced steel products, is pleased to announce the receipt of the second subscription in its $5 million private placement offering from the CF Opportunity Fund Ltd., which is a Bahamas-based fund.\n\n \n \n \n \n \n \n\n \nThis investment marks a pivotal moment in the Company's journey toward expansion and innovation.\nOn November 27, 2023, ZK International sealed a securities purchase agreement (the \"Agreement\") with CF Opportunity Fund Ltd. Under this Agreement, the Investor committed to purchasing and the Company agreed to issue and sell US$5 million of ordinary shares of the Company (the \"Private Placement\").\nStructured to be completed in three subscriptions, this Private Placement sets the stage for accelerated growth. \nStrengthening Progress: The additional investment of US$2 million, calculated at 175% of the closing bid price as of the trading day immediately preceding the Agreement's date, reinforces CF Opportunity Fund's dedication to ZK and its confidence in the Company's capacity for growth.\nThe Private Placement was exempted from the registration requirements of the Securities Act of 1933, as amended (the \"Securities Act\") pursuant to Regulation S under the Securities Act.\nMr. Jiancong Huang, Chairman and CEO of ZK International Group, commented on the milestone: \"We are pleased to announce the receipt of the second subscription in our $5 million private placement. This financing will provide vital capital to support our growth initiatives and strategic objectives. We look forward to leveraging these funds to drive long-term value for our shareholders.\" The Chairman adds, \"Our commitment to excellence and innovation remains unwavering. Through cutting-edge R&D, strategic expansion, and a relentless pursuit of excellence, we are positioning ZK International for future growth and success.\"\nFor more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.\nAbout ZK International Group Co., Ltd.:\nZK International Group Co., Ltd. is a China-based engineering company building and inv...