CDTi Announces Proposed Rights Offering
June 18 2018 - 5:00PM
CDTi Advanced Materials, Inc. (Nasdaq:CDTI) (“CDTi” or “the
Company”), a leader in advanced emission control technology, today
announced its intent to commence a rights offering pursuant to
which it plans to raise approximately $3,424,500 through the
distribution of subscription rights and the exercise thereof (the
“Rights Offering”).
Under the proposed Rights Offering, the Company will distribute
non-transferable subscription rights to purchase one share of
Common Stock for each share of Common Stock outstanding, at a
subscription price per share of $0.50, to its stockholders of
record as of June 28, 2018 (the “Record Date”). The
subscription rights will be exercisable for up to an aggregate of
6,849,000 shares, with aggregate participation to be allocated
among holders on a pro rata basis if in excess of that
threshold.
Stockholders who fully exercise their basic subscription right
will be entitled, if available, to subscribe for shares that are
not purchased by other stockholders, on a pro rata basis and
subject to the 6,849,000 shares aggregate offering threshold and
ownership limitations. The subscription rights are
non-transferable and may be exercised only during the anticipated
subscription period of Friday, June 29, 2018, through 5:00 PM EDT
on Friday, July 13, 2018, unless extended.
The Rights Offering will be made pursuant to the Company’s
effective shelf registration statement on file with the Securities
and Exchange Commission (“SEC”) and only by means of a prospectus
supplement and accompanying prospectus. The Company expects
to mail subscription certificates evidencing the subscription
rights and a copy of the prospectus supplement and accompanying
prospectus for the Rights Offering shortly following the Record
Date.
This press release is not intended to and does not constitute an
offer to sell or the solicitation of an offer to subscribe for or
buy or an invitation to purchase or subscribe for any securities in
any jurisdiction, nor shall there be any sale, issuance or transfer
of securities in any jurisdiction in contravention of applicable
law. No offer of securities shall be made except by means of
a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
About CDTi Advanced MaterialsCDTi develops
advanced materials technology for the emissions control market.
CDTi’s proprietary technologies provide high-value sustainable
solutions to reduce hazardous emissions, increase energy efficiency
and lower the carbon intensity of on- and off-road combustion
engine systems. With a continuing focus on innovation-driven
commercialization and global expansion, CDTi’s breakthrough
Powder-to-Coat (P2C™) technology exploits the Company’s
high-performance, advanced low-platinum group metal (PGM) emission
reduction catalysts. Key technology platforms include Synergized
PGM (SPGM™) and Spinel™. For more information, please visit
www.cdti.com.
Forward-Looking StatementsThis press release
contains forward-looking statements regarding the expected
distribution of rights to purchase shares of CDTi’s common stock.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including the extent of participation in the Rights Offering, risks
associated with the cash requirements of our business and other
risks detailed from time to time in our filings with the Securities
and Exchange Commission, and represent our views only as of the
date they are made and should not be relied upon as representing
our views as of any subsequent date. We do not assume any
obligation to update any forward-looking statements.
Contact Information: Moriah
Shilton or Kirsten ChapmanPhone: 415-433-3777Email:
cdti@lhai.com
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