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Cemtrex announces pricing of right offering

Nov. 21, 2018 9:23 AM ETCemtrex, Inc. (CETX) StockCETXBy: Yoel Minkoff, SA News Editor15 Comments
  • The rights offering will be made through a dividend in the form of one non-transferable subscription right for each one share of Cemtrex (NASDAQ:CETX) common stock and for every ten series 1 warrants owned by holders on the record date at a price which is lesser of (i) $1.06 per share of common stock, or (ii) 95% of the volume weighted average price of the Company’s common stock for the five trading day period through and including December 19, 2018, rounded up to the nearest whole penny.
  • Pursuant to the terms of the rights offering, the rights may be exercised for a maximum of $2,700,000 of subscription proceeds.
  • The rights offering commences on Monday, November 26, 2018 and the rights will expire if they are not exercised by 5:00 p.m. on Wednesday, December 19, 2018, unless the rights offering is extended for up to additional 30 days.

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