SINO-GLOBAL SHIPPING AMERICA, LTD. (NASDAQ:SINO) Files An 8-K Unregistered Sales of Equity Securities

SINO-GLOBAL SHIPPING AMERICA, LTD. (NASDAQ:SINO) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.

As disclosed on Sino-Global Shipping America, Ltd.’s (the “Company”) Current Report on Form 8-K filed on September 18, 2020, the Company entered into a securities purchase agreement (the “SPA”) with certain “non-U.S. Persons” (the “Purchasers”) as defined in Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), to which the Company agreed to sell an aggregate of 720,000 shares (the “Shares”) of the Company’s common stock, no par value (“Common Stock”), and warrants (the “Warrants”) to purchase 720,000 Shares at a per share purchase price of $1.46 (the “Offering”), subject to various conditions to closing.

On September 23, 2020, the transaction contemplated by the SPA closed since all the closing conditions of the SPA have been satisfied. The Company issued the Shares and Warrants to the Purchasers to the SPA and received net proceeds of approximately $1.05 million.

The issuance and sale of the Shares and Warrants are exempted from the registration requirements of the Securities Act to Regulation S promulgated thereunder.


About SINO-GLOBAL SHIPPING AMERICA, LTD. (NASDAQ:SINO)

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Sino-Global Shipping America, Ltd. is a non-asset-based global shipping and freight logistic integrated solution provider. The Company provides solutions and value added services to its customers in the shipping and freight logistic chain sector. The Company’s segments include Shipping Agency and Ship Management Services; Shipping & Chartering Services, and Inland Transportation Management Services. The Company conducts its business primarily through its subsidiaries in China (including Hong Kong), Australia, Canada, and the United States (New York and Los Angeles). The Company provides its shipping agency services in the People’s Republic of China through Sino-Global Shipping Agency Ltd. (Sino-China), which holds the licenses and permits to operate local shipping agency services in the People’s Republic of China. The Company’s inland transportation management services are operated by its subsidiaries in China (including Hong Kong) and the United States.

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