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Brean Murray, Carret & Co. Completes $2.5 Million Private Placement for Shuaiyi International New Resources Development Inc.
Monday, December 21, 2009
Shuaiyi International New Resources Development Inc. (OTCBB: SYID), a leading nutraceutical company, completed a private placement of 1.0 million shares of the Company’s common stock at $2.50 per share for gross proceeds of $2.5 million. In addition, the Company issued to each investor two three-year warrants to purchase up to an aggregate of 500,000 shares of the Company's common stock. Proceeds from this transaction are expected to be used for new business initiatives and working capital requirements. Brean Murray, Carret & Co. served as the Exclusive Placement Agent for the transaction.
Shuaiyi International New Resources Development Inc. specializes in developing, processing, marketing and distributing a variety of agricultural and nutraceutical products consisting of dry Cordyceps Militaris, organic and specialty food products. The Company believes it is the largest manufacturer of engineered Cordyceps Militaris in China. The Company’s products are sold through an extensive distribution network covering more than 10 provinces throughout China.
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 John Fletcher, Managing Director, at 212.702.6521 or Richard Serrano, Managing Director, at 212.702.6506. |
