Fushi Copperweld Closes $1.92 Million Private Placement
The warrants consisted of series A warrants to purchase 100,000 shares of common stock at an exercise price of $5.25 per share, series B warrants to purchase 100,000 shares of common stock at an exercise price of $5.50 per share, and series C warrants to purchase 100,000 shares of common stock at an exercise price of $6.00 per share.
Company CEO Li Fu, Chairman said, "We raised this money to support the growth expansion in our Fayetteville, Tennessee facility."
Dalian, China-based Fushi Copperweld through its Fushi International Bimetallic Cable Co, and Copperweld Bimetallics units, is a manufacturer of copper cladded bi-metallic engineered conductor products used in the electrical, telecommunications, transportation, utilities and industrial industries.
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