Graphex Group Limited Announces Pricing of Upsized $11.7 Million Public Offering and NYSE American Listing
August 16 2022 - 7:08PM
Graphex Group Limited (NYSE American: GRFX), and Graphex
Technologies, LLC its wholly owned US subsidiary (collectively
“Graphex”, or the “Company”), a global leader in mid-stream
processing of specialized natural graphite used for electric
vehicle (EV) lithium-ion (Li-ion) batteries, today announced the
pricing of its upsized public offering of 4,695,653 American
depositary shares (ADSs), each ADS representing 20 ordinary shares,
par value HK$0.01 per share, of the Company, at a public offering
price of $2.50 per ADS, for aggregate gross proceeds of
approximately $11.7 million before deducting underwriting
discounts, commissions, and other offering expenses. In addition,
Graphex has granted the underwriters a 45-day option to purchase up
to an additional 704,347 ADSs at the public offering price per ADS,
less the underwriting discounts and commissions, to cover
over-allotments, if any.
The ADSs are expected to begin trading on the NYSE American
Exchange on August 17, 2022, under the ticker symbol “GRFX” and the
offering is expected to close on or about August 19, 2022, subject
to satisfaction of customary closing conditions.
EF Hutton, division of Benchmark Investments, LLC, is acting as
sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-263330), was
filed with the Securities and Exchange Commission ("SEC") and was
declared effective on August 16, 2022, and a registration statement
on Form F-1MEF (File No. 333-266925 ), was filed with the SEC and
became effective upon filing. A final prospectus relating to
the offering will be filed with the SEC and will be available on
the SEC's website at http://www.sec.gov. Electronic copies of the
final prospectus relating to this offering, when available, may be
obtained from EF Hutton, division of Benchmark Investments, LLC,
590 Madison Avenue, 39th Floor, New York, NY 10022, Attention:
Syndicate Department, or via email at syndicate@efhuttongroup.com
or telephone at (212) 404-7002.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 registration or qualification under the
securities laws of any such state or jurisdiction.
About GraphexGraphex Group Limited is a Cayman
Island company with principal and administrative offices in Hong
Kong and subsidiary office in Royal Oak, Michigan. Graphex is a
global leader in the industry, proficient in commercial deep
processing of graphite, and is currently producing over 10,000
metric tons of spherical graphite annually. Graphex possesses
patents and utility models covering various technological, design,
and processing applications in addition to trade secrets and
technological expertise.
Forward Looking StatementsThis press release
contains statements that constitute "forward-looking statements,"
including with respect to the proposed public offering.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the SEC. Copies of these documents are available on the
SEC's website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Media Inquiries:FischTank
PRgraphex@fischtankpr.com
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