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Insight. Diligence. Growth.  Brean Murray, Carret & Co.

Brean Murray, Carret & Co. Completes $20.0 Million Registered Direct Offering for Universal Travel Group


Tuesday, December 15, 2009

Universal Travel Group (NYSE: UTA), a leading travel services provider in China, closed a registered direct offering of 2.2 million shares of common stock at a price of $9.00 per share for gross proceeds of approximately $20.0 million. The Company intends to use the net proceeds from the offering for identified acquisitions and working capital. Brean Murray, Carret & Co. acted as Exclusive Placement Agent on the transaction. 

Universal Travel Group is a leading travel services provider in China offering package tours, air ticketing, and hotel reservation services via the Internet and customer service representatives. The Company also operates TRIPEASY Kiosks, which are placed in shopping malls, office buildings, residential apartment buildings, and tourist sites. These kiosks are designed for travel booking with credit and bank cards, and serve as an advertising platform for Universal Travel Group. The Company's headquarters and main base of operations is in Shenzhen in the Pearl River Delta region of China. More recently, Universal Travel Group has expanded its business into Western China, opening a second home base in the Chongqing Delta region, and other attractive, under-penetrated tier-two travel markets throughout the country.
 
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, John Fletcher, Managing Director, at 212.702.6521 or Derek Woodworth, Managing Director, at 212.702.6545.

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