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China Hand Travel Entertainment Group has signed an agreement with Champion Plus Group Co., Ltd.

Source: Internet
Author: User
Keywords In hand tour depository shares
Tags cost entertainment group
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China Hand Tour Entertainment Group (NASDAQ:CMGE, hereinafter referred to as "in Hand Tour") announced today, and Champion Plus Group Co., Ltd. (hereinafter referred to as "Champion Plus") signed an agreement, will be per share of the United States Depository shares (hereinafter "ADS") The 10 dollar price directly sells 2.5 million ads to the latter.

The gross proceeds of the transaction were 25 million dollars before deducting the cost of the issue. These ads have a 180-day lock-up period. In addition, Champion Plus will be given the additional right to buy 100,000 shares of ads in hand. Champion Plus is entitled to exercise the right of purchase at any time within that period of 6 months from the end of the transaction to the next two years.

In-hand travel program to use this revenue for product development, strengthen research and development capabilities, market promotion, expand sales channels, and other general purposes.

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