Univest Securities, LLC Announces Closing of US $ 16.5 Million Registered Direct Placement for Its … | New

NEW YORK, Nov. 24, 2021 (GLOBE NEWSWIRE) – Univest Securities, LLC, a member of FINRA and SIPC, and a full-service investment bank and brokerage firm based in New York, announced today the closing of a previously announced recorded direct offering and concurrent private placement with certain investors, raising gross proceeds of approximately US $ 16.5 million, before deduction of placement agent fees and other estimated offering costs, by its customer China Xiangtai Food Co., Ltd., (the “Company”) (NASDAQ: PLIN), an emerging growth company engaged in the wholesale and retail trade of commodities for the animal feed. The offer consists of the sale of 17,175,412 ordinary shares as part of a registered direct offer and purchase warrants for 17,175,412 ordinary shares as part of a simultaneous private placement in accordance with an exemption from Registration requirements of the Securities Act of 1933 provided for in Regulation S promulgated thereunder. The warrants will be exercisable 60 days after the date of issue and will have an exercise price of US $ 1.008. The warrants will expire five years from the date of issue. The purchase price for a common share and a corresponding warrant was US $ 0.96.

The Company expects to use the net proceeds of the offering for product research and development, marketing and business development, assessment and acquisition of new businesses, talent acquisition and training, and working capital and for general business purposes.

Univest Securities, LLC acted as the exclusive placement agent for this offering. Ortoli Rosenstadt LLP acted as legal counsel to the Company and Hunter Taubman Fischer & Li LLC acted as legal counsel to Univest Securities, LLC in connection with the Offer.

The sale of the ordinary shares under the registered direct offering was made in accordance with an in-store registration statement on Form F-3 (File No. 333-238700), previously filed with the Securities and Exchange Commission United States (the “SEC”) on May 26, 2020, and declared effective July 7, 2020. A Prospectus Supplement and accompanying Prospectus relating to and describing the terms of the Registered Direct Offer have been filed with the SEC on November 23, 2021. Copies of the prospectus supplement and accompanying document for the prospectus relating to the registered direct offering can be obtained from the SEC’s website www.sec.gov or by contacting Univest Securities, LLC by email to [email protected] or by standard mail to Univest Securities, LLC, 375 Park Avenue, 15th Floor, New York, NY 10022.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to the registration or qualification under the title laws of that jurisdiction.

About Univest Securities, LLC

Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients around the world, including brokerage and execution, sales and trading, and brokerage services. market, investment banking and advisory, wealth management. She strives to provide value-added service to her clients and focuses on building long-term relationships with her clients. For more information, please visit: www.univest.us.

About China Xiangtai Food Co., Ltd.

Based in Chongqing, China, China, Xiangtai Food Co., Ltd., through the recent acquisition of Chongqing Ji Mao Cang Feed Co., Ltd., engages in the wholesale and retail of raw material solutions and food formulas. For more information, please visit http://ir.plinfood.com/.

Safe Harbor declarations

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections regarding future events and financial trends which, in the opinion of the Company, could affect its financial condition, results of operations and strategy. business and financial needs. Investors may identify these forward-looking statements by words or expressions such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “intend” ” plan ”,“ believe ”,“ potential ”,“ continue ”,“ is / are likely to ”or other similar expressions. The Company and Univest do not undertake to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law.

For more information please contact:

Univest Securities, LLC

Edric Guo President and CEO 375 Park Avenue # 1502 New York, NY 10152 Phone: (212) 343-8888 Email: [email protected]

Copyright 2021 GlobeNewswire, Inc.

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