Golden Green (CHOP) Announces 4.8M Common Offering at $5/Share
Golden Green Enterprises Ltd. (NASDAQ: CHOP) announced today that the Company priced a public offering of 4,800,000 ordinary shares at $5.00 per share, resulting in approximately $21.6 million in net proceeds, after deducting the underwriting discount, commissions, and expenses. The underwriters have been granted a 45-day option to purchase up to an additional 720,000 ordinary shares to cover over-allotments, if any.
Golden Green intends to use the net proceeds from the offering to construct and expand its manufacturing facilities and production lines, maintain existing machinery and purchase additional manufacturing equipment for its new production lines, fund research and development efforts for new and existing products, and for working capital and other general corporate purposes.
The offering is expected to close on or about November 16, 2009. Maxim Group LLC is acting as the sole book-running manager for the offering and Chardan Capital Markets LLC is acting as co-manager.
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