*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements
CDTi Announces Commencement of Rights Offering
8:05 am ET June 29, 2018 (Globe Newswire)
CDTi Advanced Materials, Inc. (Nasdaq:CDTI) ("CDTi" or "the Company"), a leader in advanced emission control technology, today announced it has commenced its previously disclosed rights offering pursuant to which it plans to raise approximately $3,424,500 through the distribution of subscription rights and the exercise thereof (the "Rights Offering").
Under the Rights Offering, the Company will distribute non-transferable subscription rights to purchase one share of Common Stock for each share of Common Stock outstanding, at a subscription price per share of $0.50, to its stockholders of record as of June 28, 2018, as more fully described in the prospectus supplement relating to the Rights Offering filed with the Securities and Exchange Commission on June 28, 2018. The Company will mail to stockholders of record as of the record date subscription certificates evidencing subscription rights and a copy of the prospectus supplement and accompanying prospectus for the Rights Offering shortly.
The subscription rights will be exercisable for up to an aggregate of 6,849,000 shares, with aggregate participation to be allocated among holders on a pro rata basis if in excess of that threshold. The subscription rights are non-transferable and may be exercised only during the subscription period of June 29, 2018 through 5:00 PM EDT on Friday, July 13, 2018, unless extended.
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.