The USA based company Sino-Global Shipping America, Ltd. (NASDAQ: SINO) traded with change of -34.86% to $1.14 with the total traded volume of 1866685 shares in current session versus to an average volume of 76.69K. The stock was down in the 5 days activity -8.85%. The one month performance of stock was -23.58%. SINO shares are -33.21% for the quarter and driving a -31.10% rally over the course of the past year and is now down -31.64% since this point in 2018. Right now SINO beta is 3. The average volatility for the week and month was at 7.71% 6.10% respectively.
Sino-Global Shipping America, Ltd. (NASDAQ:SINO) today reported that it has entered into a securities purchase agreement with certain accredited investors to purchase a total of $3 million of its common stock in a registered direct offering and concurrent private placement.
Under the terms of the securities purchase agreement, Sino-Global has agreed to sell 2 million shares of its common stock. In a concurrent private placement, the Company has agreed to issue unregistered Series A Warrants and Series B Warrants to purchase up to a total of approximately 4 million shares of common stock. The Series A Warrants and the Series B Warrants will be exercisable six months following the date of issuance and have an exercise price of $1.75. The Series A Warrants and the Series B Warrants will expire on the 5.5-year and 13-month anniversaries of their initial issuance dates, respectively. The combined purchase price for one share of common stock, one Series A Warrant and one Series B Warrant will be $1.50. The gross proceeds to Sino-Global from the registered direct offering and concurrent private placement are estimated to be $3 million before deducting the placement agent’s fees and other estimated offering expenses. The registered direct offering and concurrent private placement are expected to close on or about March 14, 2018, subject to the satisfaction of customary closing conditions.
Maxim Group LLC acted as sole placement agent for the offering.
Shares of Sino-Global Shipping America, Ltd. have been recently spotted trading -71.43% off of the 52-week high price. On the other end, company shares have been noted -30.91% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 1.65 – 3.99. Switching over to some distances from popular moving averages, we see that the stock has been recorded -51.19% away from the 50 day moving average and -59.10% away from the 200 day moving average. Moving closer, we can see that shares have been trading -44.28% off of the 20-day moving average.