Focus Universal Inc. Announces Pricing of $8 Million Private Placement of Common Stock
Focus Universal Inc. Announces Pricing of $8 Million Private Placement of Common Stock |
[19-June-2018] |
WALNUT, Calif., June 19, 2018 /PRNewswire/ -- Focus Universal, Inc. (OTC: FCUV) ("Focus Universal" or the "Company"), a Universal Smart Instrumentation Platform announced today that it has entered into a definitive securities purchase agreement with certain eligible purchasers for the purchase of a total of 4,600,000 shares of its common stock (the "Shares") for an aggregate purchase price of $8.0 million, or $1.75 per share. The company intends to use the net proceeds of this offering for strategic acquisitions and business development.
"We plan to use the proceeds from this capital raise to build out the business infrastructure of Focus Universal, as well as, identify unique acquisition opportunities to expedite the growth of the Company," said Focus Universal CEO, Desheng Wang. The Shares are being offered and sold in this private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"). The Shares have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell, or a solicitation of an offer to purchase, the Shares in any jurisdiction in which such offer or solicitation would be unlawful. About Focus Universal For more information, please visit www.focusuniversal.com. Forward-Looking Statements
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Company Codes: OTC-BB:FCUV, OTC-PINK:FCUV, OTC-QB:FCUV |
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