Replies to post #1169 on Clean Diesel Technologies Inc (CDTI)

[FUNMAN]

Now we know, they didn't sell enough - CDTi Extends Rights Offering Through July 20

Fri July 13, 2018 5:39 PM
GlobeNewswire

OXNARD, Calif., July 13, 2018 (GLOBE NEWSWIRE) -- CDTi Advanced Materials, Inc. (Nasdaq:CDTI) (“CDTi” or “the Company”), a leader in advanced emission control technology, today announced it has extended until July 20, 2018, 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”).

CDTi has chosen to extend the offering period to give stockholders, particularly those holding shares in street name who may have only recently received applicable materials, additional time to participate in the Rights Offering should they desire to do so. The company directs stockholders holding shares in street name who are interested in participating in the Rights Offering but who have not received materials to contact their broker(s).

Rights Offering Terms
Under the Rights Offering, the Company distributed 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 subscription rights are 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 extended subscription period of June 29, 2018, through 5:00 PM EDT on July 20, 2018.

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.