Pingtan Marine Enterprise Ltd. (NasdaqCM:PME) will look for acquisitions. The company announced that it has sold $4.0 million of the Company's Series A Convertible Preferred Shares, par value $0.001 per share ("Series A Preferred Shares"), in a registered direct offering. The Company may also use a portion of the net proceeds from this offering to finance acquisitions of, or investments in, competitive and complementary businesses, products or services as a part of its growth strategy.