CLEANTECH SOLUTIONS INTERNATIONAL, INC. (NASDAQ:CLNT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On October 9, 2017, Cleantech Solutions International, Inc. (the “Company”) entered into a Note Purchase Agreement (the “NPA”) with Chong Ou Holdings Group Company Limited, a BVI company (the “Investor”) to which the Investor purchased a note for US$670,000, bearing two percent (2%) interest per annum (the “Note”). The Note automatically converts into shares of common stock of the Company at a conversion price equal to US$3.35 per share on January 8, 2018.
The foregoing description of the NPA does not purport to be complete and is qualified in its entirety by reference to the complete text of the NPA, which is incorporated herein by reference and attached hereto as Exhibit 10.1.
| Item 3.02 | Unregistered Sale of Equity Securities. |
The disclosure set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.
The Note was issued to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), Section 4(a)(2) of the Securities Act and Regulation S promulgated thereunder.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit No. | Description |
| 10.1 | Note Purchase Agreement, dated October 9, 2017 |
Cleantech Solutions International, Inc., ExhibitEX-10.1 2 f8k100917ex10-1_cleantech.htm NOTE PURCHASE AGREEMENT,…To view the full exhibit click here
About CLEANTECH SOLUTIONS INTERNATIONAL, INC. (NASDAQ:CLNT)
Cleantech Solutions International, Inc., through its subsidiaries, manufactures and sells textile dyeing and finishing machines and sells forged products and fabricated products to a range of clean technology customers, including high precision forged rolled rings and related components for the wind power industry and other industries. The Company operates through three segments: dyeing and finishing equipment segment, forged rolled rings and related components segment, and petroleum and chemical equipment segment. Through its dyeing and finishing equipment segment, the Company designs, manufactures and distributes a line of high and low temperature dyeing and finishing machinery to the textile industry. Through its petroleum and chemical equipment segment, the Company produces and sells coal chemical equipment, formaldehyde plant and downstream products, a range of heat exchangers, separators, tanks, towers, reaction kettles and other products to petroleum and chemical industries.
