Graphex Group Limited (GRFX)

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Here is the catalyst: Graphex Group Limited Announces Closing of Upsized $11.7 Million Public Offering and NYSE American Listing
4:05 pm ET August 19, 2022 (Globe Newswire) Print
Graphex Group Limited (NYSE American: GRFX), ("Graphex", or the "Company"), a global leader in mid-stream processing of specialized natural graphite used for electric vehicle (EV) lithium-ion (Li-ion) batteries, today announced the closing of its previously announced upsized public offering of 4,695,653 American Depositary Shares (ADSs), each ADS representing 20 ordinary shares, par value HK$0.01 per share, of the Company, at a public offering price of $2.50 per ADS, for aggregate gross proceeds of approximately $11.7 million before deducting underwriting discounts, commissions, and other offering expenses. In addition, Graphex has granted the underwriters a 45-day option to purchase up to an additional 704,347 ADSs at the public offering price per ADS, less the underwriting discounts and commissions, to cover over-allotments, if any.

The ADSs began trading on the NYSE American Exchange on August 17, 2022, under the ticker symbol "GRFX".

EF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering.