15 April 2010 – Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading Chinese project development and management company that engineers, manages and monitors China’s municipal sewer systems, natural waterways and resources, today announced that the Company priced a public offering of 2,142,750 ordinary shares at an offering price of $14.00 per share. Newbridge Securities Corporation and Brean Murray, Carret & Co. acted as co-lead and joint book-running managers of the offering.
Tri-Tech expects gross proceeds of approximately $30 million, prior to the exercise of the underwriters’ 30-day over-allotment option to purchase an additional 321,412 shares. Tri-Tech expects to use the net proceeds of the offering for working capital, acquisitions, as well as new product development and sales and marketing. The offering is expected to close on 20 April 2010, subject to customary closing conditions.
The securities described above are being offered by Tri-Tech pursuant to registration statements on Form S-1 previously filed and declared effective by the Securities and Exchange Commission (SEC). The offering may be made only by means of the prospectus relating to the proposed offering, copies of which may be obtained, when available, from the offices of Newbridge Securities Corporation, Attention: Douglas Aguililla, 1451 W Cypress Creek Rd. Ste. 204, Ft. Lauderdale, FL 33309, by telephone at +1 954 334 3450, or via email at daguililla@newbridgesecurities.com, or from Brean Murray, Carret & Co., LLC, Attention: Minnie Huang, 570 Lexington Avenue, New York, NY 10022, by telephone at +1 212 702 6667, or via email at minnie.huang@bmur.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer will be made only by means of a prospectus, including prospectus supplement, forming a part of the effective registration statement.
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for China’s municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. Tri-Tech owns seven software copyrights and two technological patents. Please visit http://www.Tri-Tech.cn for more information.
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Tri-Tech Holding Inc. has based these forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Investors Contact:
Hawk Associates
Frank Hawkins
Susan Zhou
Tel: +1 305 451 1888
Email: tritech@hawkassociates.com
