SD Head Usa, LLC announced that it expects to receive $1.5 million in funding from Shandong Head Co.,Ltd. and another investor
November 25, 2019
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SD Head Usa, LLC announced that it will receive $1,500,000 in an equity round of funding on November 26, 2019. The company will issue membership units in the transaction. The transaction will include participation from returning investors Shandong Head Co.,Ltd. (SZSE:002810) for $600,000 and Michael Chen for $900,000 for gross proceeds of $1,500,000 to retain their 40% and 60% stake in the company respectively. The transaction has been approved at the 7th directorate's 14th meeting of Shandong Head Co.,Ltd. (SZSE:002810) and does not need it's shareholders' approval. Post closing of the transaction, the capital of Shandong Head Co.,Ltd. (SZSE:002810) in the company will increase to $800,000 and Michael Chen's capital will increase to $1,200,000.
Shandong Head Group Co Ltd, formerly Shandong Head Co Ltd, is a China-based company mainly engaged in development, manufacture and sales of water-soluble polymer. The main product of the Company is non-ionic cellulose ether. The Company also manufactures methyl cellulose (MC), hydroxyl ethyl cellulose (HEC), methyl hydroxyl ethyl cellulose (MHEC), hydroxyl propyl celiulose (HPC) and others. The Company's products are widely used in building materials, medicine, food, textiles, daily chemicals, petroleum exploration, mining, papermaking, polymerization, aerospace and other fields. The Company distributes its products in domestic market and to overseas markets.
SHANDONG HEAD GROUP CO.,LTD. 
