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8-K - China Integrated Energy, Inc. | v207173_8k.htm |
EX-4.1 - China Integrated Energy, Inc. | v207173_ex4-1.htm |
EX-10.2 - China Integrated Energy, Inc. | v207173_ex10-2.htm |
EX-10.1 - China Integrated Energy, Inc. | v207173_ex10-1.htm |
China
Integrated Energy, Inc. Announces Capital Raise of $24.17 Million
XI'AN,
China, Jan. 4, 2011 /PRNewswire-Asia-FirstCall/ — China Integrated Energy, Inc.
(Nasdaq: CBEH;
the "Company"), a leading non-state-owned integrated energy company in China
today announced that it has entered into definitive agreements with several
institutional investors for a registered direct placement of approximately
$24.17 million of common stock at a price of $7.00 per share. The Company will
issue a total of 3,453,572 shares to the institutional investors.
In
addition, the Company will issue to the investors warrants to purchase up to
1,726,786 shares of common stock, which, if fully exercised, would provide an
additional $12.95 million in gross proceeds to the Company. The warrants have an
exercise price of $7.50 per share and are exercisable for a six month and five
trading day period commencing six months and one day following the closing
date.
The
Company anticipates that the capital raised in this registered direct placement
will be used for biodiesel capacity expansion and working capital for wholesale
distribution of finished oil and heavy oil products.
The
offering is expected to close on or about January 7, 2011, subject to
satisfaction of customary closing conditions.
Rodman
& Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc.
(Nasdaq: RODM),
acted as the exclusive placement agent for the transaction.
The
securities described above are being offered pursuant to a shelf registration
statement (File No. 333-166551), which was declared effective by the United
States Securities and Exchange Commission ("SEC") on May 19, 2010. 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. When filed with the SEC,
copies of the prospectus supplement and the accompanying base prospectus
relating to this offering may be obtained at the SEC's website at http://www.sec.gov or
from Rodman & Renshaw, LLC by request at info@rodm.com or
(212) 356-0549.
About
China Integrated Energy, Inc.
China
Integrated Energy, Inc. is a leading non-state-owned integrated energy company
in China engaged in three business segments: the production and sale of
biodiesel, the wholesale distribution of finished oil and heavy oil products,
and the operation of thirteen retail gas stations. The Company operates a
100,000-ton biodiesel production plant located in Tongchuan City, Shaanxi
Province and a 50,000-ton plant in Chongqing City, China. The Company expects to
increase the total biodiesel production capacity to 200,000 tons upon completion
of a new 50,000-ton production facility adjacent to the 100,000-ton plant in
Tongchuan City in January 2011. The Company utilizes a distribution network
covering 16 provinces and municipalities, established over the past 11 years, to
distribute both heavy oil and finished oil including gasoline, petro-diesel and
biodiesel. For additional information on the Company please visit http://www.chinaintegratedenergy.com.
An online
investor kit including a company presentation, press releases, current price
quotes, stock charts and other valuable information for investors is available
at http://www.chinaintegratedenergy.com.
To subscribe to future releases via e-mail alert, visit http://www.chinaintegratedenergy.com/alerts.
Safe
Harbor Statement
This
press release includes statements that may constitute forward-looking statements
made pursuant to the safe harbor provision of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. For example, statements
about the future use of the proceeds are forward looking and subject to risks.
China Integrated Energy, Inc. may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and Exchange
Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward- looking statements
involve inherent risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements. A number of important
factors could cause actual results to differ materially from those contained in
any forward-looking statement. Potential risks and uncertainties include, but
are not limited to, risks outlined in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake any
obligation to update any forward-looking statement, except as required under
applicable law.
For more
information, please contact:
Company
Susan
Zhou
Vice
President, Investor Relations
Tel: +1-305-393-5536
Email:
susan.zhou@cbeh.net.cn
Web: http://www.chinaintegratedenergy.com
HC
International, Inc.
Ted
Haberfield, Executive VP
Tel: +1-760-755-2716
Email:
thaberfield@hcinternational.net
Web: http://www.hcinternational.net
Rodman
& Renshaw, LLC
info@rodmanandrenshaw.com
1251
Avenue of the Americas
New York,
NY 10020
Tel: +1-
212 - 356-0530
Web:
http:// www.rodm.com