China Recycling Energy Corporation (NasdaqCM:CREG) announced that it has entered into a securities purchase agreement for up to 3,320,000 shares at an issue price of $11.522 per share for gross proceeds of $38,253,040 on February 23, 2021. The transaction will involve participation from Guohua Ku, Chairman and Chief Executive Officer for 1,000,000 shares. The par value of the shares is $0.001 per share. 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. The closing of the transaction is subject to the satisfaction of customary closing conditions in the purchase agreement. The agreement contains customary representations, warranties and agreements of the company and the purchasers and customary rights and obligations of the parties thereto.