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The Chinese company said that the over-allotment option was exercised at the public offering price of USD8.75 per share.
The total number of shares sold by the company in this public offering, including the exercise of the over-allotment option, is 6,583,750.
Aggregate net proceeds raised by the company totalled approximately USD54.7m, after deducting underwriting discounts and commissions and roadshow travel expenses but before other expenses.
Net proceeds will be used by the company for the construction of its liquefied natural gas (LNG) facility, the acquisition of eight CNG fuelling stations, the purchase of eight CNG trucks and the establishment of a joint venture company with China National Petroleum Corporation Kunlun Natural Gas Co Ltd, as well as for general working capital purposes.
Roth Capital Partners LLC acted as the sole book runner for the offering. Simmons & Company International acted as a co-manager for the offering.
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