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Stock Market & Financial Investment News

News Breaks
July 14, 2014
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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August 14, 2014
06:04 EDTGSIGeneral Steel backs 2H14 EPS 8c-12c, 2H14 revenue $1.3B-$1.4B
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06:04 EDTGSIGeneral Steel reports Q2 EPS (20c), compared to (72c) from a year ago
Reports Q2 revenue $588MM, compared to $653.7M from a year ago; Total sales volume in the second quarter of 2014 was 1.31 million metric tons

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