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On December 31, 2018, Delta Technology Holdings Limited

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LexTrader Member Level  Tuesday, 01/08/19 02:33:32 PM
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On December 31, 2018, Delta Technology Holdings Limited (the “ Company ”) entered into certain securities purchase agreement (the “ SPA ”) with certain non-affiliate “non-U.S. Persons” (the “ Purchasers ”) as defined in Regulation S of the Securities Act of 1933, as amended (the “ Securities Act ”) pursuant to which the Company agreed to offer and sell up to 7,500,000 of its ordinary shares (the “ Shares ”), par value $0.0001 per share, at a per share purchase price of $0.55 up to an aggregate gross proceeds of four million one hundred twenty-five thousand dollars ($4,125,000).



The net proceeds of the Offering shall be used by the Company for working capital and general corporate purposes. The parties to the SPA have each made customary representations, warranties and covenants. The completion of the transaction contemplated by the SPA is subject to certain closing conditions including but not limited to shareholders and Nasdaq’s approval of the issuance of the Shares.



The form of the SPA is filed as Exhibit 99.1 to this Current Report on Form 6-K and such document is incorporated herein by reference. The foregoing is only a brief description of the material terms of the SPA, and does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to such exhibits.

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