Cemtrex Announces Maximum Price of Common Stock for Rights Offering Launching on Monday, November 26
November 21 2018 - 9:00AM
Business Wire
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading
technology and manufacturing company, announced today the pricing
of its previously announced rights offering. The rights offering
will be made through a dividend in the form of one non-transferable
subscription right for each one share of 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. There is no minimum number
of rights that must be exercised in the rights offering. If the
rights offering is not fully subscribed and a holder fully
exercises its basic subscription rights, the holder may also
exercise its rights to purchase at the subscription price
additional shares of common stock that were not subscribed for by
other rights holders in the rights offering.
Cemtrex intends to use the net proceeds from the rights offering
to accelerate the development and marketing of its new smart
device, the SmartDesk, a proprietary advanced technology workspace
solution, and for general corporate purposes to increase sales and
operational capabilities.
The rights offering is being made pursuant to Cemtrex’s
effective registration statement on Form S-3 (No. 333-218501),
filed with the SEC and made effective on June 14, 2017. Investors
should consider the information in the prospectus and prospectus
supplement carefully before making any decision to participate.
Copies are being sent to holders of record on the record date of
November 20, 2018.
Requests for copies of these documents and questions from
stockholders and series 1 warrant holders relating to the rights
offering may be directed to Okapi Partners LLC, the information
agent for the rights offering, at 1-212-297-0720 (bankers and
brokers) or 1-855-208-8903 (all others), or by email at
info@okapipartners.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of any securities referred to in this press release in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. The rights offering
will be made only by means of prospectuses meeting the requirements
of the Securities Act of 1933, as amended.
Advisory Group Equity Services, Ltd. doing business as RHK
Capital is acting as dealer-manager for the rights offering. RHK
Capital invites any broker-dealers interested in participating to
contact a representative of the dealer-manager at
rkreger@rhk.capital.
About Cemtrex
Cemtrex, Inc. (CETX) is the manufacturer of the SmartDesk, the
world’s most advanced workstation. Cemtrex is a diversified
technology company that's driving innovation in a wide range of
sectors, including smart technology, virtual and augmented
realities, advanced electronic systems, industrial solutions, and
intelligent security systems.
www.cemtrex.com
Safe Harbor Statement
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to Cemtrex’s proposed offering
of securities. These forward-looking statements are based on
management’s current expectations and are subject to certain risks
and uncertainties, including those described in Cemtrex’s SEC
periodic reports and other filings, that could cause actual results
to differ materially from those set forth in or implied by such
forward-looking statements. Statements made herein are as of the
date of this press release and should not be relied upon as of any
subsequent date.
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version on businesswire.com: https://www.businesswire.com/news/home/20181121005299/en/
For further information, please contact:
Information Agent:
Okapi Partners LLCPhone: 1-212-297-0720 (bankers and brokers) or
1-855-208-8903 (all others)Email: info@okapipartners.com.
Investor Relations
Cemtrex, Inc.Phone: 631-756-9116Saagar
Govilinvestors@cemtrex.com
General Inquiriessales@cemtrex.com
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