Ambow concludes $2M private placement
Ambow Education (NYSE:AMBO) said Wednesday it completed a $2 million private placement on February 28.
Under private placement, the company issued and sold 5 million shares and an accompanying warrant to purchase up to 2 million shares at a purchase price of US$0.40 per share.
The warrant is exercisable upon issuance and has a three-year term from the exercise date.
The exercise price of the warrant is US$0.80 per share.