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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.