Tanac Automation Co., Ltd. announced that it expects to receive CNY 469.766863 million in funding from Shanghai Feiyao Investment Management Co., Ltd.
January 05, 2022
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Tanac Automation Co., Ltd. announced that it has entered into an agreement for a private placement of not more than 29,694,492 shares at a price of CNY 15.82 per share for gross proceeds of not more than CNY 469,766,863.44 on January 5, 2022. The transaction will include participation from Shanghai Feiyao Investment Management Co., Ltd. The transaction has been reviewed and approved at the 7th meeting of the company's 4th board of directors, and needs to be approved by the company's general meeting of shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares shall not be transferred within 36 months from the date of the end of the issuance.
Tanac Automation Co., Ltd is a China-based company principally engaged in development, manufacture and sales of computer numerical control (CNC) automatic winding equipment and accessories. The Companyâs products include CNC automatic winding machines-standard, CNC automatic winding machines-non standard, CNC automatic special equipment and CNC equipment parts. CNC automatic winding machines-standard include air core coil winding machines, full-automatic winding machines and others; CNC automatic winding machines-non standard include full-automatic motor winding machines, full automatic flying winding machines and others; CNC automatic special equipment include full-automatic floating machines, assembly machines, terminal connectors and others; CNC equipment parts include tensioners, sealing-tape machines, twisters, succors sets, free location thread clamp devices. The Company distributes its products mainly within domestic market and to overseas markets.
TANAC AUTOMATION CO., LTD. 