Cemtrex to Raise $4 Million From Direct Offering

MT Newswires Live

01/10

Cemtrex (CETX) said Friday that it has struck a deal to sell about 1.47 million shares at $2.722 per share to an institutional investor in a direct offering to raise $4 million.

The investor can also buy pre funded warrants in lieu, it added.

The company said it plans to use the net proceeds for general corporate purposes. It expects to close the transaction Jan. 9.

Shares were up more than 9% in recent trading.

Price: 3.18, Change: +0.28, Percent Change: +9.66

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