After a 2019 outstanding performance with 4 crossborder M&A transactions completed, there is no a better way to begin the 2020 with the announcement of our first transaction completed!
On January 3, 2020, Mr. Li, formally signed for the purchase of 500,000 newly issued Class A convertible preferred shares of CTI for US $5 million. The first $2.5 million is expected to be funded on or before January 10, 2020, while the balance of $2.5 million will close after certain conditions are met.
In addition, Mr. Li will appoint a new Director to the Board.
Once the transaction was announced, the stock skyrocketed, closing Monday, January 6, up 225%, from Friday’s, January 3, closing price. A record 22.9 million shares of the Company’s stock traded in one day.
Thanks to all the team members who made it possible.