3D Communication Plans to Raise Up to 992M Yuan for Satellite-Terrestrial Integration
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On September 23, Jin10 Data reported that 3D Communication (三维通信) announced a plan to issue shares to specific investors, aiming to raise a total of no more than 992 million yuan (approximately $136 million). The final amount is subject to approval from the China Securities Regulatory Commission. After deducting issuance expenses, the proceeds will be used entirely for the Satellite-Terrestrial Integrated Communication System project, the Next-Generation Communication Technology R&D project, and to supplement working capital and repay interest-bearing debt. The company stated that before the funds are raised, it will use its own funds to invest in the projects and will replace them with the raised funds after they are received, in accordance with legal procedures.
Source report
September 23 – 3D Communications (三维通信) has announced a proposed private placement of shares, aiming to raise a total of no more than RMB 992.00 million (including the principal amount), subject to final approval by the China Securities Regulatory Commission (CSRC) in its registration document for the issuance.
Use of Proceeds
After deducting issuance expenses, the net proceeds from the offering will be allocated entirely to the following projects:
- Satellite-Terrestrial Integrated Communication System Project
- Next-Generation Communication Technology R&D Project
- Supplementing working capital and repaying interest-bearing debt
Fund Deployment Strategy
Prior to the actual receipt of the proceeds from this issuance, the company will use its own funds to make initial investments in the projects as needed. Once the proceeds are received, the company will replace the self-funded amounts in accordance with the procedures stipulated by relevant laws and regulations.
Source
金十数据Neutral / independent
Part of this Story
3D Communications Plans 992M Yuan Private Placement, 60% for Satellite-Terrestrial System