Cavico Corp., (NASDAQ: CAVO) ("Cavico" or the "Company"), a leading infrastructure development company based in Vietnam, today announced that it has closed its previously announced public offering of 862,500 shares of common stock, including 112,500 shares pursuant to the over-allotment option. Total net proceeds from the offering and over-allotment, after deducting underwriting commissions, were over $1.9 million. The Company intends to use the net proceeds from this offering for general corporate purposes, including general working capital purposes.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as book-running manager, and Chardan Capital Markets, LLC acted as co-manager for the offering. Sichenzia Ross Friedman Ference LLP ( www.srff.com) acted as legal counsel to Cavico Corp. in connection with the offering.
The shares are being sold under the Company's existing shelf registration statement on form S-3 (File No. 333-169866,) which was declared effective by the Securities and Exchange Commission (the "SEC") on October 18, 2010. Any offer of the shares will be made exclusively by means of a base prospectus, and a prospectus supplement filed with the SEC. When available, the base prospectus and final prospectus supplement relating to the offering may be obtained by visiting EDGAR on the SEC Website at www.sec.gov or upon request from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York, NY 10020, 212-430-1710 or email: email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Cavico Corp. Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3,000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.