Fushi Copperweld, Inc. (FSIN) announced the pricing of public follow-on offering of 6.5 million shares of its common stock at $8.00 per share. The Dalian-based company said it will receive aggregate net proceeds of about $48 million, after deducting underwriting discounts and commissions and estimated offering expenses, not including the over-allotment option.
Fushi Copperweld said it intends to use about $39.7 million of the net proceeds to repay indebtedness, and remaining proceeds for working capital and other general corporate purposes.
Jefferies & Company, Inc. acted as sole book-running manager, with Roth Capital Partners, LLC as co-lead manager, and Rodman & Renshaw, LLC as co-manager. In connection with this offering, the company granted the underwriters a 30-day option to purchase up to an additional 975 thousand shares.
The company expects to close the transaction on or about February 1, 2010, subject to customary conditions.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.