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 [兼并收购】REVERSE MERGER 最新案例， 规模比较小 |
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Diamondhorse
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头衔: 海归中将
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加入时间: 2005/11/01
文章: 4896
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作者：Diamondhorse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
BEFUT Corp., an owner of a Chinese company that makes industrial cables, completed a reverse merger with a Keating Investments-affiliated shell and raised $500,000 by selling a convertible note and warrants.
In the March 13 merger, BEFUT issued all its equity in exchange for 117.8 million shares of the shell, Frezer Inc. The shell also cancelled 2.2 million of its shares, giving BEFUT a 98.3% stake.
BEFUT, which indirectly controls the Chinese company, had originally agreed to purchase a majority stake in Frezer for $370,000 on March 2.
The company raised $500,000 by selling 15% convertible notes and 720,076 warrants to Yong Li, Yuming Ning, Chunying Diao, and Yining Xia. The warrants can be exercised for 19 cents each. The notes are due in March 2010.
Frezer shares closed at 9 cents on the day of the merger, but had dropped to 6.5 cents by March 16.
BEFUT's subsidiary, Dalian Befut Wire & Cable Manufacturing Co., Ltd., makes cables for electrical power systems and other special uses in the marine, mining, nuclear and petrochemical industries.
The company had net income of $1.85 million for the last half of 2008, down from $2.18 million in the year-earlier period.
Elizabeth Chen at New York law firm Guzov Ofsink advised on the merger.
作者：Diamondhorse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [兼并收购】REVERSE MERGER 最新案例， 规模比较小 -- Diamondhorse - (1268 Byte) 2009-3-25 周三, 21:43 (1350 reads)
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