China Solar Raises $11 Million

China Solar & Clean Energy Solutions, Inc. has announced that it has entered into a Securities Purchase Agreement with institutional investors pursuant to which China Solar agreed to issue and sell up to 4.7 million shares of common stock at a purchase price of $2.40 per share, for gross proceeds of up to $11 million.

The proceeds of the offering will be used to complete the acquisition of Shenzhen PengSangPu, for general working capital, and future acquisitions.

“We are very pleased to have completed this financing which provides us with additional capital to help fund our future growth, including our recently announced acquisition of Shenzhen PengSangPu. We are also quite pleased with the quality of the institutional investors that participated in our private placement and their confidence in our ability to carry out our strategic vision and become the leading Clean Tech energy solution provider in China,” said Deli Du, president and CEO of China Solar.

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