BEIJING, May 19, 2023
/PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) ("ReTo" or
the "Company"), a provider of technology solutions and operation
services for intelligent ecological environments and roadside
assistance services and software development services in
China, today announced that it has
entered into a securities purchase agreement, dated as of
May 18, 2023 (the "Purchase
Agreement") with certain purchasers (collectively, the
"Purchasers") for the sale of an aggregate of 2,000,000 common
shares, par value US$0.01 per share,
of the Company (the "Shares"), at a purchase price of US$3.30 per Share, or an aggregate purchase price
of US$6,600,000 in a registered
direct offering (the "Offering").
The Shares are offered by means of the Company's registration
statement on Form F-3 (File No. 333-267101), which was initially
filed with the Securities and Exchange Commission (the "SEC") on
August 26, 2022, as amended
and declared effective on December 9,
2022, the accompanying base prospectus, dated December 6, 2022, and a prospectus supplement,
which the Company expects to file with the SEC on May 19, 2023. Electronic copies of the prospectus
supplement and the accompanying base prospectus may be obtained,
when available, on the SEC's website at http://www.sec.gov and may
also be obtained by contacting Angela
Hu, at the Company, using her contact information at the end
of this press release.
This Offering is expected to close on or about May 19, 2023, subject to the satisfaction of
customary closing conditions. The Company intends to use the net
proceeds from the Offering to fund the growth of its business,
primarily working capital, and for general corporate purposes, as
well as to acquire or invest in technologies, products and/or
businesses that it believes will enhance its value.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of these Company securities,
nor shall there be any sale of these Company securities in any
state or other 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 other
jurisdiction.
About ReTo Eco-Solutions, Inc.
Founded in 1999, ReTo, through its proprietary technologies,
systems and solutions, is striving to bring clean water and fertile
soil to communities worldwide. The Company, through its operating
subsidiaries in China, is engaged
in the manufacture and distribution of eco-friendly construction
materials (aggregates, bricks, pavers and tiles), made from mining
waste (iron tailings), as well as equipment used for the production
of these eco-friendly construction materials. In addition, the
Company provides consultation, design, project implementation and
construction of urban ecological protection projects and parts,
engineering support, consulting, technical advice and service, and
other project-related solutions for its manufacturing equipment and
environmental protection projects. The Company also offers roadside
assistance services and software development services utilizing
Internet of Things technologies. For more information, please
visit: http://en.retoeco.com.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements include, among
others, statements regarding the completion of the Offering, the
anticipated proceeds from the Offering and the use of such
proceeds. Our actual results may differ materially and adversely
from those expressed in any forward-looking statements as a result
of various factors and uncertainties. The reports filed by the
Company with the SEC discuss these and other import factors and
risks that may affect the Company's business, results of operations
and financial conditions. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. The Company
undertakes no obligation to publicly revise these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
ReTo Eco-Solutions, Inc.
Angela Hu
Beijing Phone: +86-010-64827328
ir@retoeco.com or 310@reit.cc
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SOURCE ReTo Eco-Solutions, Inc.