Aegis Capital Corp. acted as Sole Bookrunner on a $7 Million Underwritten Public Offering of Ordinary Shares for Greenland Technologies Holding Corporation (NASDAQ: GTEC)

Rhea-AI Summary

Greenland Technologies Holding Corporation (NASDAQ:GTEC) has successfully completed a $7 million underwritten public offering of ordinary shares, with Aegis Capital Corp. serving as the sole bookrunner. This capital raise aims to enhance the company's financial flexibility and support its strategy in developing drivetrain systems for material handling machinery and electric vehicles. The offering aligns with GTEC's mission to innovate in the electric vehicle sector, potentially facilitating future growth opportunities.

Positive

• Successfully raised $7 million, enhancing financial flexibility.
• Funds will support the development of drivetrain systems and electric vehicles.
• Potential to accelerate growth in the electric vehicle market.

Negative

• Dilution of existing shareholders' equity due to new share issuance.

NEW YORK, NY / ACCESSWIRE / June 30, 2021 / Aegis Capital Corp. acted as Sole Bookrunner on a $7 Million Underwritten Public Offering of Ordinary Shares for Greenland Technologies Holding Corporation (NASDAQ:GTEC)

About Greenland Technologies Holding Corporation

Greenland Technologies Holding Corporation (NASDAQ:GTEC) is a developer and a manufacturer of drivetrain systems for material handling machineries and electric vehicles, as well as electric industrial vehicles. For more information visit www.gtec-tech.com.

About Aegis Capital Corp.

Aegis Capital Corporation ("Aegis") has been in the wealth management and investment banking business since 1984. Aegis is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis also provides research and sales and trading services to institutional investors. Aegis offers its investment representatives a conflict free service platform and is able to provide a full-range of products and services.

For more information about this offering or Investment Banking Services please email InvestmentBanking@aegiscap.com or call (212) 813-1010

www.aegiscapcorp.com

This communication has been prepared by Aegis Capital Corporation for distribution to Aegis Capital Corporation's clientele. This communication is not intended for public dissemination and the recipient is prohibited from sharing this information. This communication has been prepared for institutional - accounts, as defined within FINRA Rule 4512(c), who (1) are capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; and (2) will exercise independent judgment in evaluating the recommendations of any broker - dealer or its associated persons. This communication is not a product of Aegis Capital Corporation Research Department. Aegis Capital Corporation., Member FINRA, SIPC

SOURCE: Aegis Capital Corp.

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FAQ

What is the purpose of Greenland Technologies' recent $7 million public offering?

The $7 million public offering aims to enhance financial flexibility and support the development of drivetrain systems for material handling and electric vehicles.

How might the $7 million offering impact existing shareholders of GTEC?

The offering may dilute existing shareholders' equity, as new shares are issued.

Who acted as the bookrunner for Greenland Technologies' public offering?

Aegis Capital Corp. acted as the sole bookrunner for the public offering.

When was the public offering for Greenland Technologies completed?

The public offering was completed on June 30, 2021.