Seeking Alpha

Kandi Technologies raises $11M in private placement

  • Highflier Kandi Technologies (KNDI) raises some money with the direct placement of 606K shares to two institutional investors at $18.24 each for proceeds of about $11M. As part of the deal, the company also issues those investors 90.9K warrants struck at $22.80 per share and expiring in 18 months.
  • Shares -4% premarket to $20.31.
  • Press release
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Comments (1)
  • losbronces
    , contributor
    Comments (803) | Send Message
     
    Interesting timing on the sale. If they had waited until after earnings, which they had to know would be good, they could have received a higher price.
    19 Mar 2014, 09:27 AM Reply Like
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