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CHINA RECYCLING ENERGY CORPORATION

(CREG)
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CHINA RECYCLING ENERGY CORP : Other Events (form 8-K)

04/23/2021 | 04:32pm EST

Item 8.01 Other Events.

On April 21, 2021, pursuant to those certain securities purchase agreements (the "Purchase Agreements") with several non-U.S. investors (the "Purchasers"), the Company closed a private placement (the "Offering") for the sale of an aggregate of 3,260,000 shares (the "Shares") of common stock of the Company, par value $0.001 per share ("Common Stock") at $11.522 per share, which is the five-day average closing price immediately prior to signing the Purchase Agreements. The Company received gross proceeds from the sale of the Shares of $37,561,720, before offering expenses. The Company intends to use the net proceeds from this Offering for the upgrade of Erdos power generation project.

As previously disclosed in the Company's current report on Form 8-K filed on February 25, 2021 with the U.S. Securities and Exchange Commission, the Shares are being offered by the Company pursuant to an exemption from the registration requirements pursuant to Section 4(a)(2) and/or Regulation S of the Securities Act of 1933, as amended.

This Form 8-K contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, and in other documents that the Company files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 8-K, except as required by law.

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Financials (USD)
Sales 2020 - - -
Net income 2020 4,05 M - -
Net cash 2020 82,6 M - -
P/E ratio 2020 3,22x
Yield 2020 -
Capitalization 39,6 M 39,6 M -
EV / Sales 2019 12,9x
EV / Sales 2020 -
Nbr of Employees -
Free-Float 50,8%
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Managers and Directors
Guo Hua Ku Chairman & Chief Executive Officer
Yong Jiang Shi Chief Financial Officer & Vice President
LuLu Sun Independent Director
Xiaoping Guo Independent Director
Zhongli Liu Independent Director
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