HONG KONG, March 1, 2021 /PRNewswire/ -- CLPS Incorporation
(Nasdaq: CLPS) ("CLPS" or "the Company"), announced today that it
has entered into a securities purchase agreement on February 28, 2021 with certain accredited
investors to purchase approximately $16.0
million worth of its common stock and warrants in a
registered direct offering priced at-the-market under Nasdaq
rules.
Under the terms of the securities purchase agreement, the
Company has agreed to sell 2,666,666 shares of the Company's common
stock and issue unregistered warrants to purchase up to an
additional 2,666,666 shares of common stock in a concurrent private
placement transaction. The warrants will be exercisable immediately
upon the date of issuance and have an exercise price of
$6.00. The warrants will expire 5.5
years from the date of issuance. The purchase price for one share
of common stock and one corresponding warrant will be $6.00. The gross proceeds to the Company from the
registered direct offering are estimated to be approximately
$16.0 million before deducting the
placement agent's fees and other estimated offering expenses. The
registered direct offering is expected to close on or about
March 3, 2021, subject to the
satisfaction of customary closing conditions.
Maxim Group LLC is acting as sole placement agent in connection
with this offering.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form F-3 (File No.:
333-231812) filed with the Securities and Exchange Commission (the
"SEC") dated May 29, 2019, as
amended, and declared effective on June 20,
2019. A prospectus supplement related to the offering will
be, filed with the SEC and available on the SEC's website at
http://www.sec.gov. Copies of the prospectus supplement relating to
the offering may be obtained, when available, by contacting: Maxim
Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, by telephone: 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 such state or
jurisdiction.
About CLPS Incorporation
Headquartered in Hong Kong, CLPS Incorporation (the
"Company") (Nasdaq: CLPS) is a global leading information
technology ("IT") consulting and solutions service provider
focusing on the banking, insurance, and financial service sectors.
The Company serves as an IT solutions provider to a growing network
of clients in the global financial service industry, including
large financial institutions in the
US, Europe, Australia, Southeast Asia and Hong Kong SAR, and their
PRC-based IT centers. The Company maintains 19 delivery and/or
research & development centers to serve different customers in
various geographic locations. Mainland China centers are
located in Shanghai, Beijing, Dalian, Tianjin,
Baoding, Chengdu, Guangzhou, Shenzhen, Hangzhou,
Suzhou, and Hainan. The remaining
eight global centers are located in Hong Kong SAR, USA,
UK, Japan, Singapore, Malaysia, Australia,
and India. For further information regarding the Company,
please visit: http://ir.clpsglobal.com/, or follow CLPS
on Facebook, LinkedIn,
and Twitter.
Forward-Looking Statements
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance. Known and unknown risks, uncertainties and other
factors, which may be beyond the Company's control, may cause the
actual results and performance of the Company to be materially
different from such forward-looking statements. All such statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties related to the Company's expectations of the
Company's future growth, performance and results of operations, the
Company's ability to capitalize on various commercial, M&A,
technology and other related opportunities and initiatives, as well
as the risks and uncertainties described in the Company's most
recently filed SEC reports and filings. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS