Business
ZK International Group Co., Ltd. Announces $1.4 Million Convertible Note Financing
WENZHOU, China, Sept. 24, 2020 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), a designer, engineer,
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, Sept. 24, 2020 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) (\"ZK International\" or the \"Company\"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced that it has set the terms of a convertible note financing for aggregate gross proceeds up to $1.4 million (the \"Convertible Notes\"). \nThe offering is expected to close on or about September 25, 2020, subject to the satisfaction of customary closing conditions. The Convertible Notes may be convertible into up to 2,370,968 Company's ordinary shares. Further details of the use of proceeds of this offering will be outlined on or about the closing.\nThe Convertible Notes and underlying ordinary shares are being offered pursuant to a shelf registration statement on Form F-3 (File Number: 333-230860) filed with the U.S. Securities and Exchange Commission (the \"SEC\") under the Securities Act of 1933, as amended on April 15, 2019 and declared effective on April 29, 2019. The offering of the Convertible Notes and underlying shares will be made only by means of a prospectus supplement that forms a part of the registration statement.\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these shares of common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock was filed by ZKIN with the SEC on September 22, 2020. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov.\nAbout ZK International Group Co., Ltd.\nZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 33 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Managem...