Roslyn, New York, March 14, 2018 /PRNewswire/ -- Sino-Global
Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company"
or "we"), a non-asset based global shipping and freight logistics
integrated solution provider, announced today the closing of its
previously announced registered direct offering and concurrent
private placement with certain accredited investors to purchase a
total of $3 million of its common
stock, Series A Warrants and Series B Warrants.
Maxim Group LLC acted as sole placement agent for the
offering.
After deducting the placement agent's commission and other
estimated offering expenses payable by Sino-Global, the net
proceeds to the Company were approximately $2.6 million. Sino-Global intends to use the net
proceeds of the offering for general corporate purposes and working
capital.
The common stock sold in the registered direct offering was old pursuant to a shelf registration
statement on Form S-3 (File No. 333-222098), previously filed with
the Securities and Exchange Commission (the "SEC") on December 15, 2017 and declared effective on
February 16, 2018. A prospectus supplement dated
March 12, 2018 and the accompanying
prospectus relating to and describing the terms of the registered
direct offering was filed with the SEC on March 13, 2018. The Series A Warrants and Series
B Warrants, sold in the concurrent private placement, together with
the underlying common stock, have not been registered under the
Securities Act of 1933, as amended. Copies of the prospectus
supplement and the accompanying prospectus relating to the
registered direct offering may be obtained at the SEC's website
www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue,
2nd Floor, New York, NY 10174, at
212-895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Sino-Global Shipping America, Ltd.
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. is a company engaged in
shipping, chartering, logistics and related business services.
Headquartered in New York,
Sino-Global has offices in Los
Angeles, mainland China,
Australia, Canada and Hong
Kong. The Company's current service offerings consist of
inland transportation management, freight logistics and container
trucking services. Additional information about Sino-Global can be
found on the Company's corporate website at www.sino-global.com.
The Company routinely posts important information on its
website.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase any security. Such an offer can only be made
in accordance with the Securities Act of 1933, as amended, and
applicable state securities laws. Any statements contained in this
release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties as
identified in Sino-Global's filings with the Securities and
Exchange Commission. Actual results, events or performance may
differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
the date hereof. Sino-Global undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect the events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events except as required by applicable securities regulations or
rules.
Contact Information
The Equity Group Inc.
Terry Downs
Senior Associate
(212)-836-9615 / tdowns@equityny.com
View original
content:http://www.prnewswire.com/news-releases/sino-global-announces-closing-of-3-million-registered-direct-offering-300614073.html
SOURCE Sino-Global Shipping America, Ltd.