BEIJING, Oct. 2, 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 internet of
things technology development services in China and other countries, today announced
that it has entered into a securities purchase agreement, dated as
of September 29, 2023, with certain
purchasers, for the sale of an aggregate of 15,000,000 common
shares, par value US$0.01 per share,
of the Company (the "Shares"), at a purchase price of US$1.00 per share, for an aggregate purchase
price of US$15,000,000, in a
registered direct offering (the "Offering"). These 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 or about October 3, 2023. Electronic copies of the
prospectus supplement, when available, and the accompanying base
prospectus may be obtained 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.
Concurrent with the Offering, the Company also entered into
certain separate securities purchase agreements, dated as of
September 29 2023, with several
non-U.S. purchasers, in connection with the sale of an
aggregate of 10,000,000 Shares (the "Private Placement Shares"), at
a purchase price of US$1.00 per
share, for an aggregate purchase price of US$10,000,000 (the "Concurrent Private
Placement"). The sale of the Private Placement Shares under the
Concurrent Private Placement is in reliance upon Regulation S of
the Securities Act of 1933, as amended (the "Securities Act").
The closing of the sales under both the Offering and Concurrent
Private Placement is expected to occur on or about October 3, 2023, subject to the satisfaction of
customary closing conditions. The Concurrent Private Placement is
not conditioned on the closing of the Offering but is subject to
customary closing conditions. The Company intends to use the net
proceeds from the Offering and the Concurrent Private Placement to
fund the growth of its business in China or other global regions, acquisition or
investment in technologies, products and/businesses, and for
working capital and general corporate purposes.
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.
The Private Placement Shares have not been registered under the
Securities Act, or any state or other applicable jurisdiction's
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state or other jurisdictions'
securities laws.
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 ecological restoration and solid waste treatment,
manufacturing and distribution of eco-friendly construction
materials (aggregates, bricks, pavers and tiles) made from mining
waste (iron tailings), and soil remediation materials transformed
from solid waste (iron tailings), as well as equipment used for the
production of these eco-friendly construction materials and soil
remediation 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 technology 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 and the
Concurrent Private Placement, the anticipated proceeds from the
Offering and the Concurrent Private Placement and the use of such
proceeds. Our actual results may differ materially 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.