Pryor Cashman Represents Sino-Global Shipping in Registered Direct Offering
Pryor Cashman represented Sino-Global Shipping America, Ltd. (NASDAQ CM: SINO) in a registered direct offering to accredited investors of 2 million shares of its common stock, and a concurrent private placement of warrants to purchase shares of common stock, for aggregate gross proceeds to the company of $3 million. The offering closed on March 14, 2018.
The offering of the shares of common stock was made pursuant to the company’s effective shelf registration statement, which was declared effective by the Securities and Exchange Commission on February 16, 2018. The warrants are sold at a concurrent private placement exercisable at a price of $1.75 per share of common stock, beginning on September 14, 2018.
Sino-Global is a non-asset based global shipping and freight logistics integrated solution provider that provides tailored solutions and value-added services to its customers to drive effectiveness and control in related aspects throughout the entire shipping and freight logistics chain.
Representing Sino-Global in the transaction from Pryor Cashman’s nationally-recognized Corporate Group were Partner Elizabeth Chen, Chair of the firm’s China practice, Counsel Michael Campoli and Associate Kimber Hargrove.
