XI'AN, China, June 16 /PRNewswire-Asia-FirstCall/ -- Sino Clean Energy, Inc. (Nasdaq Global Market: SCEI) ("Sino Clean Energy," or the "Company"), a leading producer and distributor of coal-water slurry fuel ("CWSF") in the People's Republic of China ("China"), today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of up to $35 million of its common stock, including an underwriters' option to purchase additional shares of common stock to cover over-allotments, if any. The Company intends to use the net proceeds to expand its CWSF production capacity at new and existing facilities in China, and for working capital and general corporate purposes.
Canaccord Genuity Inc. and Axiom Capital Management, Inc. will be the joint book-runners and co-lead managers for the proposed offering.
There can be no assurance as to whether or when any such offering would be commenced or completed or as to the actual size or terms of any such offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Once available, a preliminary prospectus relating to these securities may be obtained from Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110. Email: email@example.com. Fax: (617) 788-1553, or from Axiom Capital Management, Inc., Attn: Syndicate Department, 780 Third Avenue, 43rd Floor, New York, NY 10017. Email: firstname.lastname@example.org. Fax: (212) 521-3888.
About Sino Clean Energy
Sino Clean Energy is a U.S. publicly traded company and a China-based producer and distributor of coal-water slurry fuel ("CWSF"). With locations in Shaanxi Province and Liaoning Province, Sino Clean Energy is one of the leading CWSF producers in China. For more information about Sino Clean Energy, please visit http://www.sinocei.net/ .
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to uncertainties in product demand, the impact of competitive products and pricing, our ability to obtain regulatory approvals, changing economic conditions around the world and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission . The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information please contact:
Assistant to the Chairman
Tel: +86-29-8406-7376 (China)
HC International, Inc.
Ted Haberfield, Executive VP
SOURCE Sino Clean Energy, Inc.