Benzinga | Dec 9, 2020 09:03AM EST

Sino-Global Shipping America Announces Pricing Of ~$4.8M Registered Direct Offering Priced At-The-Market

ROSLYN, N.Y., Dec. 9, 2020 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ:SINO) ("Sino-Global", the "Company" or "SINO"), a non-asset based global shipping and freight logistical integrated solutions provider, announced today that it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $4.8 million worth of its common stock in a registered direct offering and warrants to purchase common stock in a concurrent private placement.

Under the terms of the securities purchase agreement, the Company has agreed to sell approximately 1.6 million shares of the Company's common stock. In a concurrent private placement, the Company has agreed to issue unregistered warrants to purchase up to approximately 1.2 million shares of the Company's common stock. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $3.10. The warrants will expire 3.5 years from the date of issuance. The purchase price for one share of common stock and a corresponding warrant will be $3.10. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $4.8 million before deducting the placement agent's fees and other estimated offering expenses. The registered direct offering and concurrent private placement are expected to close on or about December 11, 2020, subject to the satisfaction of customary closing conditions.