Cemtrex Announces Rights Offering Reminder
Farmingdale, NY, Dec. 18, 2018 (GLOBE NEWSWIRE) -- – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading technology and manufacturing company, reminds its right holders of its previously announced rights offering. The rights offering subscription price is 95% of the volume weighted average price of Cemtrex’s common stock for the five trading day period ending on December 19, 2018, but in no event more than $1.06 per share. Pursuant to the terms of the rights offering, the rights may be exercised for a maximum of $2,700,000 of subscription proceeds.
The rights offering subscription period is set to expire by 5:00 PM NYC time on Wednesday, December 19, 2018, unless the rights offering is extended for up to additional 30 days. If the rights offering is not fully subscribed and a holder fully exercises its basic subscription rights, the holder may also exercise its rights to purchase at the subscription price additional shares of common stock that were not subscribed for by other rights holders in the rights offering
Cemtrex intends to use the net proceeds from the rights offering to accelerate the deployment and marketing of its new smart device, the SmartDesk, a proprietary advanced technology workspace solution, and for general corporate purposes to increase sales and operational capabilities.
The rights offering is being made pursuant to Cemtrex’s effective registration statement on Form S-3 (No. 333-218501), filed with the SEC and made effective on June 14, 2017. Investors should consider the information in the prospectus and prospectus supplement carefully before making any decision to participate. Copies are being sent to holders of record on the record date of November 20, 2018.
Advisory Group Equity Services, Ltd. doing business as RHK Capital is acting as dealer-manager for the rights offering. Requests for copies of these documents and questions from stockholders and series 1 warrant holders relating to the rights offering may be directed to Okapi Partners LLC, the information agent for the rights offering, at 1-212-297-0720 (bankers and brokers) or 1-855-208-8903 (all others), or by email at info@okapipartners.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of any securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The rights offering will be made only by means of prospectuses meeting the requirements of the Securities Act of 1933, as amended.
About Cemtrex
Cemtrex, Inc. (CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Cemtrex’s proposed offering of securities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties, including those described in Cemtrex’s SEC periodic reports and other filings, that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
For further information, please contact:
Information Agent:
Okapi Partners LLC
Phone: 212-297-0720 (bankers and brokers) or 855-208-8903 (all others)
Email: info@okapipartners.com.
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
General Inquiries
Released December 18, 2018