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Stock Market & Financial Investment News

News Breaks
October 15, 2012
09:05 EDTGSIGeneral Steel obtains NYSE listing extension
The company received a four-month extension for continued listing and trading of the company's stock on the NYSE. As previously disclosed, the company is not in compliance with Section 802.01E of the NYSE's Listed Company Manual based on its delay in filing its Annual Report on Form 10-K for the year ended December 31, 2011.
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July 14, 2014
09:01 EDTGSIGeneral Steel raises $7.5M in a private placement
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08:36 EDTGSIGeneral Steel announces 5M shares private placement at $1.50 per share
General Steel has entered into a definitive Subscription Agreement for a private placement of its common stock, par value 0.1c per share, with Henry Yu, the company's Chairman and CEO. The gross proceeds from the private placement will be approximately $7.5M and the company intends to use the proceeds to fund its expansion into high-growth bulk commodity e-commerce. The investor purchased from the company and the company issued and sold to the Investor 5M shares of Common Stock at a purchase price of $1.50 per share for an aggregate amount of $7.5M. The private placement is expected to close in July.

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