China Education Alliance (CEU) Prices 3.16M Shares At $5.50 A Share
China Education Alliance (NYSE: CEU) announced that it has priced its public offering of 3,162,055 shares of common stock. China Education Alliance has granted the representative of the underwriters a 45-day option to purchase up to an additional 474,308 shares of common stock. The shares were offered to the public at $5.50 per share.
The offering is expected to settle and close on October 5, 2009, subject to customary closing conditions. Net proceeds from the offering are expected to be used for working capital and general corporate purposes.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM) acted as sole book-running manager for the offering.
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