Cleantech Solutions Earns In $622K In Stock Offering
Seeking Alpha Analyst Since 2013
Originally published at www.seclive.com
Cleantech Solutions International (CLNT) earned approximately $622K in a recent stock offering completed on July 10, 2013. The company sold 150,508 shares of common stock for $4.70 per share, with gross earnings of $707K. After accounting for a 10% fee and 2% expense allowance, a total of $84,892, net proceeds were just above $622K. The company did not employ a placement agent but instead paid an individual, not a U.S. citizen, affiliated with an investor of the company. Cleantech intends to use the proceeds from the offering for working capital and general corporate purposes. Cleantech Solutions is a manufacturer of metal components and assemblies, with principal usage in the solar, wind, and other clean technologies.
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