Planet Green Holdings Corp. Entered Into Financing Transaction

Rhea-AI Summary

Planet Green Holdings Corp. (NYSE American: PLAG) announced a Share Purchase Agreement, securing $7,600,000 by issuing 4,000,000 shares at approximately $1.90 each. The Transaction will close upon meeting customary conditions. The press release includes forward-looking statements regarding potential risks and uncertainties that could impact actual results. Investors are advised that these statements should not be solely relied upon for future expectations, as they are subject to various factors that may lead to differences from anticipated outcomes.

Positive

• Raised $7,600,000 through Share Purchase Agreement.
• Issuance of shares at $1.90 each provides liquidity.

Negative

• Issuing 4,000,000 shares may dilute existing shareholder value.

NEW YORK, April 26, 2021 /PRNewswire/-- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced today that the Company has entered into a Share Purchase Agreement with three investors (the "Transaction"). Pursuant to the agreement, the Company will receive gross proceeds of $7,600,000 in the aggregate, in exchange for the issuance of an aggregate of 4,000,000 shares of the Company's common stock, representing a purchase price of approximately $1.90 per share. The Transaction will be closed on customary closing conditions of this type of transaction.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC's website at www.sec.gov.

For more information please contact:
Ms. Lili Hu
Chief Financial Officer
Phone: 718 799 0380
Email: hulili@planetgreenholdings.com

View original content:http://www.prnewswire.com/news-releases/planet-green-holdings-corp-entered-into-financing-transaction-301277105.html

SOURCE Planet Green Holdings Corp.

FAQ

What is the significance of Planet Green Holdings Corp.'s $7.6 million financing deal on April 26, 2021?

The financing deal allows Planet Green Holdings Corp. to raise substantial capital, which can be used for business operations and growth.

How many shares did Planet Green Holdings Corp. issue in the recent transaction?

Planet Green Holdings Corp. issued 4,000,000 shares under the Share Purchase Agreement.

What is the purchase price per share for Planet Green Holdings Corp.'s recent financing?

The purchase price per share in the recent financing was approximately $1.90.

What are the risks mentioned in Planet Green Holdings Corp.'s press release?

The press release warns about known and unknown risks and uncertainties that could cause actual results to differ from forward-looking statements.

Where can investors find more information about Planet Green Holdings Corp.'s financial performance?

Investors can find additional information in the reports filed with the Securities and Exchange Commission, available on the SEC's website.