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Brean Murray, Carret & Co. Completes $30.0 Million Registered Direct Offering for China Marine Food Group Limited
Tuesday, January 26, 2010
Brean Murray, Carret & Co. (BMC), a leading full service investment banking and financial services firm, announced that it served as Co-Lead Placement Agent and Joint Book-Running Manager of registered direct offering for China Marine Food Group Limited (AMEX: CMFO), a manufacturer of seafood-based snack foods and distributor of fresh marine catch in China. The Company sold approximately 4.6 million shares of common stock at a price of $6.50 per share for gross proceeds of approximately $30.0 million. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
China Marine Food Group Limited is a leading processor and distributor of seafood-based snack foods, and fresh and frozen marine catch. The Company’s Mingxiang brand is an industry leader and is sold in more than 2,200 retail sales points throughout China. In addition, the Company recently expanded its business with the acquisition of Shishi Xianghe Food Science and Technology Co., Ltd., a Fujian-based manufacturer of the branded "Hi-Power" algae-based soft drinks.
Brean Murray, Carret’s Investment Banking Group is dedicated to helping our clients achieve their strategic and financial goals. For over 35 years, the Firm has specialized in providing underwriting, financing, M&A advisory and independent financial advisory services. As demonstrated by our track record, Brean Murray, Carret’s industry knowledge, commitment and experience are critical to ensure a successful transaction.
For further details regarding this transaction or Brean Murray, Carret’s Investment Banking practice, please contact Richard Serrano, Managing Director, at 212.702.6506 or John Fletcher, Managing Director, at 212.702.6521.
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