FARMINGDALE, N.Y.--(BUSINESS WIRE)--Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading technology and manufacturing company, has extended the date for its rights offering until December 21st, 2018 at 5:00 PM. at the fixed subscription price at $0.75 per share pursuant to the terms of the prospectus. Pursuant to the terms of the rights offering, the rights may be exercised for a maximum of $2,700,000 of subscription proceeds.
The Company has chosen to extend the offering period to give common stockholders and series 1 warrant holders, particularly those holding their shares and warrants in street name who may have only recently received applicable subscription materials, additional time to participate in the rights offering should they desire to do so and due to the original expiration date falling during this holiday season.
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 have been 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 firstname.lastname@example.org.
Cemtrex intends to use the net proceeds from the rights offering to accelerate the development 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.
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.
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.
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.