ROSLYN, N.Y., Feb. 10,
2021 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ:
SINO) ("Sino-Global", the "Company" or "SINO"), a non-asset based
global shipping and freight logistical integrated solutions
provider, announced today the closing of its previously announced
registered direct offering and concurrent private placement with
certain accredited investors to purchase a total of $13,599,792.50 of its common stock and
warrants.
Maxim Group LLC acted as sole placement agent for the
offering.
After deducting the placement agent's commission and other
estimated offering expenses payable by Sino-Global, the net
proceeds to the Company were approximately $12.3 million. Sino-Global intends to use the net
proceeds of the offering for working capital and other general
corporate purposes.
The common stock sold in the registered direct offering was sold
pursuant to a shelf registration statement on Form S-3 (File No.
333-222098), previously filed with the Securities and Exchange
Commission (the "SEC") on December 15,
2017 and declared effective on February 16, 2018. A prospectus supplement dated
February 6, 2021 and the accompanying
prospectus relating to and describing the terms of the registered
direct offering was filed with the SEC on February 8, 2021. The warrants, sold in the
concurrent private placement, together with the underlying common
stock, have not been registered under the Securities Act of 1933,
as amended. Copies of the prospectus supplement and the
accompanying prospectus relating to the registered direct offering
may be obtained at the SEC's website www.sec.gov or by contacting
Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3500.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Sino-Global Shipping America, Ltd.
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. is a company engaged in
shipping, chartering, logistics and related services. Headquartered
in New York, Sino-Global has
offices in Los Angeles, Mainland
China, Australia, Canada and Hong
Kong. The Company's current service offerings consist of
shipping agency services, shipping and chartering services, inland
transportation management services and ship management services.
Additional information about Sino-Global can be found on the
Company's corporate website at www.sino-global.net. The Company
routinely posts important information on its website.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties once the transaction is
complete, and SINO's estimated and future results of operations,
business strategies, competitive position, industry environment and
potential growth opportunities. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. Due to
known and unknown risks, our actual results may differ materially
from our expectations or projections. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
The following factors, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: there is uncertainty about the spread of the COVID-19
virus and the impact it will have on SINO's operations, the demand
for the SINO's products and services, global supply chains and
economic activity in general. These and other risks and
uncertainties are detailed in the other public filings with the SEC
by SINO.
Additional information concerning these and other factors that
may impact our expectations and projections will be found in our
periodic filings with the SEC, including our Annual Report on Form
10-K for the fiscal year ended June 30, 2020. SINO's SEC
filings are available publicly on the SEC's website
at www.sec.gov. SINO disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
For more information, please contact:
Tuo Pan
Acting Chief Financial Officer
1-718-888-1814
tinap@sino-global.net
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SOURCE Sino-Global Shipping America, Ltd.