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Cleantech Solutions Earns In $622K In Stock Offering

Jul. 12, 2013 10:25 AM ETSEII
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Seeking Alpha Analyst Since 2013

Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.

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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