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China Security & Surveillance Technology, Inc. Announces

发布时间:2019-01-11 11:23 作者:K8 来源:admin 点击: 字号:

SHENZHEN, China, Oct. 8 /PRNewswire-Asia-FirstCall/ -- China Security & Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq Dubai: CSR), a leading provider of digital surveillance technology in the PRC, today announced that it has completed its registered direct offering with certain accredited investors for 9.36 million shares of its common stock at a price at $6.25 per share under its Form S-3 Registration Statement resulting in gross proceeds to the Company of $58.5 million, before deducting placement agent fees and expenses of the offering. In addition, the Company has issued to the investors warrants to purchase 2.3 million shares of common stock, in the aggregate, at a price of $8.16 per share for a term of one year. Brean Murray, Carret & Co., LLC acted as the sole placement agent on the transaction.

The net proceeds from the offering will be used to repay the Company's $50 million Tranche A Zero Coupon Guaranteed Senior Unsecured Convertible Notes for a purchase price of $47.5 million, as specified in a non-binding term sheet signed between the Company and Citadel Equity Fund Ltd. Pending such repayments the Company will use the remaining net proceeds from the offering for working capital and general corporate purposes.

About China Security & Surveillance Technology, Inc.

Based in Shenzhen, China, CSST manufactures, distributes, installs and services surveillance and safety products and systems as well as develops surveillance and safety related software in China. Its customers are mainly comprised of commercial and government entities and non-profit organizations. CSST has built a diversified customer base through itAAAAtensive sales and service network that includes over 150 branch offices and distribution points throughout China. To learn more about the Company visit http://www.csst.com .

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning our expectations regarding repurchase of the Tranche A Zero Coupon Guaranteed Senior Unsecured Convertible Notes, as well as all assumptionAAAAApectations, predictions, intentions or beliefs about future events. Forward-looking statements can be identified by the use of forward-looking terminology such as 'will,' 'believeAAAAAAApects' or similar expressions. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and based upon premises with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ('SEC'), and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system at www.sec.gov.

For more information, please contact:

Company Contact:

Terence Yap

Tel: +86-755-8351-5634

Email: ir@csst.com

Investor Contact:

ICR:

Michael Tieu

Tel: +86-10-6599-7960

Email: michael.tieu@icrinc.com

Bill Zima

Tel: 203-682-8200

Email: bill.zima@icrinc.com

Media Contact:

Patrick Yu

Fleishman-Hillard Hong Kong

Tel: +852-2530-2577

Email: patrick.yu@fleishman.com

本文源自: 环亚娱乐

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