SunMoon to sell new shares to China’s Yiguo for $15 mil as part of capital-raising plans

SINGAPORE (Jan 3): SunMoon Food Company will be selling 333.3 million new shares at 4.5 cents per share to its existing business partner Shanghai Yiguo E-commerce (Yiguo) for estimated proceeds of about $15 million.

The selling price represents a discount of about 55% to the volume weighted average price of 10 cents for trades done on Dec 30.

The fruits trading company will also be issuing Yiguo 166.7 million free unlisted warrants to subscribe for one new share at 5.4 cents per warrant share. This is expected to result in additional gross proceeds of about $9 million.

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