ReTo Eco-Solutions sells 15M shares at $1.00 in registered direct offering

ReTo Eco-Solutions announced that it has entered into a securities purchase agreement, dated as of September 29, 2023, with certain purchasers, for the sale of an aggregate of 15M common shares, par value $0.01 per share, of the company, at a purchase price of $1.00 per share, for an aggregate purchase price of $15M, in a registered direct offering. These Shares are offered by means of the company’s registration statement on Form F-3 (File No. 333-267101), which was initially filed with the SEC on August 26, 2022, as amended and declared effective on December 9, 2022, the accompanying base prospectus, dated December 6, 2022, and a prospectus supplement, which the company expects to file with the SEC on or about October 3, 2023. Concurrent with the Offering, the company also entered into certain separate securities purchase agreements, dated as of September 29 2023, with several non-U.S. purchasers, in connection with the sale of an aggregate of 10M shares, at a purchase price of $1.00 per share, for an aggregate purchase price of $10M. The sale of the Private Placement Shares under the Concurrent Private Placement is in reliance upon Regulation S of the Securities Act of 1933, as amended. The closing of the sales under both the Offering and Concurrent Private Placement is expected to occur on or about October 3, 2023, subject to the satisfaction of customary closing conditions. The Concurrent Private Placement is not conditioned on the closing of the Offering but is subject to customary closing conditions. The company intends to use the net proceeds from the Offering and the Concurrent Private Placement to fund the growth of its business in China or other global regions, acquisition or investment in technologies, products and/businesses, and for working capital and general corporate purposes.