Detroit, Dec 19th, 2018, (PENNYSTOCKS.NEWS), Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), is a world manufacturing and a leading technology company, prompt the right holders of its previously declared rights offering. The subscription price of rights offering is 95 percent of volume the average price of common stock of Cemtrex for the five trading day period ending on 19th December 2018 but more than $1.06 per share, in no event.
Consistent with the terms of the rights offering, the rights may practice for almost $2,700,000 of the subscription yields. The subscription period of rights subscription is set to expire on Wednesday, Dec 19, 2018, by 5:00 pm NYC, the rights offering extended up to 30 more days. When the rights offering is not fully subscribed, and a holder fully practices its fundamental subscription rights, a holder may exercise its rights to purchase at the common stock’s additional shares that were not subscribed by other rights holders in the rights offering.
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Cemtrex aims to utilize the net proceeds from the rights offering to increase the deployment and marketing of its latest smart device, the SmartDesk, a patented advanced technology workspace solution and for the general corporate methods to accelerate the sale and operational capabilities.
The rights offering made consistent to a valid registration statement of Cemtrex, on the form S-3 (No. 333-218501), filed with SEC and made powerful on 14th June 2017. Before making any decision, the shareholders must consider the information in the prospectus supplement and prospectus carefully. On a record date, 20 November 2018, copies sent to the holders of record. The Advisory Group Equity Services, Ltd, is doing the business like RHK Capital is acting as the dealer manager for the rights offering. Appeals for the copies of these documents and the queries from the stockholders and the series one warrant holders associating to rights offering that may be conducted to Okapi Partners LLC.
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