The issue price represents a 5.73% discount to the volume weighted average price (VWAP) of Sanli’s share price, which traded at 12.73 cents on June 30, a day before the company called for a trading halt.
Sanli Environmental is seeking to raise $4 million via a placement round.
On July 2, the company entered into a placement agreement with SAC Capital to place up to 33.33 million shares at an issue price of 12 cents apiece.
