SunMoon Food to raise around $2.8 million via placing out new shares at 2.3 cents each

SunMoon Food Company, whose business is in food supply chain, plans to raise net proceeds of around $2.82 million by placing out 125 million new shares.

The placement shares, at 2.3 cents each, is a premium of around 5% to the weighted average price of 2.2 cents on Feb 17, the last trading day before the placement announcement was made on Feb 18.