FARMINGDALE, N.Y., Jan. 23, 2017 /PRNewswire/ -- Cemtrex, Inc.
(NasdaqCM: CETX) today announced the conclusion of its subscription
rights offering which expired on January 20,
2017, and the commencement of its offering of the
unsubscribed units in the rights offering to the public. The
Company sold 1,356,187 units in the rights offering raising total
gross proceeds of $13,561,870 before
payment of the dealer-manager fee and other offering expenses.
In the continuing offering of up to 143,813 unsubscribed units,
the Company is offering to sell these units, which were first
offered to existing shareholders but were not subscribed for in the
rights offering, to both current subscribers as well as all other
public investors who have yet to subscribe. Each unit
consists of one share of the Company's series 1 preferred stock,
paying cumulative dividends at the rate of 10% of the purchase
price per year, and two series 1 warrants, each to purchase one
share of the Company's common stock at $6.31 per share for a period of five years after
the issuance date. The purchase price for the units in the
public offering remains at $10.00 per
unit. The public offering will terminate at 5:00 p.m., Eastern time, on Tuesday, January 31, 2017, unless extended by the
Company.
Source Capital Group, Inc., the dealer-manager for the rights
offering, as well as broker-dealers who are members of the selling
group, have agreed to use their commercially reasonable efforts to
place the units in this offering to the public. Current
shareholders who did not previously subscribe for units in the
rights offering may participate in the public offering by
contacting the Company, Source Capital Group or their investment
advisor.
The Company has applied to have its series 1 preferred stock
traded on the Nasdaq Capital Market, however no assurance can be
given that the series 1 preferred stock or the series 1 warrants
will be traded on any exchange or market. The Company will
announce the trading symbol of the securities if and when
available.
The offering will be made pursuant to the Company's effective
registration statement on Form S-1 (Reg. No. 333-213369) on file
with the U.S. Securities and Exchange Commission (the "SEC").
This press release is not an offer to sell these securities
and is not soliciting an offer to buy these securities. The
offering can be made only by a final prospectus. Investors should
consider investment objectives, risks, charges, and expenses
carefully before investing. The prospectus included in the
registration statement contains this and additional information
about the Company and investors should carefully read the
prospectus before investing. The prospectus may be found by
clicking on the following link:
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=11753324&RcvdDate=12/28/2016&CoName=CEMTREX%20INC&FormType=424B2&View=html
Requests for copies of the prospectus and questions relating to
the offering may be directed to the information agent, as
follows:
Information Agent
Okapi Partners LLC
1212 Avenue of the Americas, 24th Floor
New York, NY 10036
Tel.: (212) 297-0720 or (877) 259-6290 (toll free)
cemtrex@okapipartners.com
About Cemtrex
Cemtrex, Inc. is a global, diversified industrial and
manufacturing company that provides a wide array of solutions to
meet today's technology challenges and is rapidly growing through
acquisitions. Cemtrex provides manufacturing services of
advanced custom engineered electronics, industrial contracting
services, monitoring instruments for industrial processes and
environmental compliance, and equipment for controlling
particulates, hazardous pollutants and Greenhouse gases used in
carbon trading globally. For more information, please visit
www.cemtrex.com.
About Source Capital Group
Source Capital Group, Inc. was founded in 1992 as a boutique
investment banking firm specializing in small to medium-sized
transactions, and continues to focus its investment banking
activities in those segments of the market. Source Capital
has grown to include businesses in general securities, emerging
market securities, distressed and high yield debt securities,
investment management, mortgages and business lending. Source
Capital's mission is to provide excellent service and independent,
unbiased and tailor-made advice. Source Capital is registered
as a broker-dealer with the SEC and in 50 states, the District of Columbia and Puerto Rico, and is a member of the Financial
Industry Regulatory Authority and the Securities Investor
Protection Corporation.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include all statements other than
statements of historical fact. These forward-looking statements are
inherently difficult to predict. Actual results, including
all matters relating to the rights offering and all matters
relating to our future financial results, could differ materially
for a variety of reasons. Information about factors that
could potentially affect our financial results is included in our
registration statement which is referred to above. These and
our other subsequent filings with the SEC identify important
factors that could cause our actual results to differ materially
from those contained in our projections, estimates and other
forward-looking statements.
Cemtrex, Inc. has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents that
Cemtrex has filed or files in the future with the SEC for more
complete information about Cemtrex and the offering. You may
get these documents for free by visiting EDGAR on the SEC website
at www.sec.gov. Alternatively, Cemtrex will arrange
to send you the prospectus if you request it by calling the
Information Agent at (212) 297-0720 or (877) 259-6290.
Information Agent Contact:
Okapi Partners LLC
1212 Avenue of the Americas, 24th Floor
New York, NY 10036
Tel.: (212) 297-0720 or (877) 259-6290 (toll free)
142789@email4pr.com
Investor Contacts:
Investor Relations
Cemtrex, Inc.
Tel.: (631) 756-9116
142789@email4pr.com
Andrew Haag
Managing Partner
IRTH Communications
142789@email4pr.com
Tel.: (866) 976-4784
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SOURCE Cemtrex Inc.