Aerocentury corp. announces closing of securities purchase agreement

Palo alto, calif., sept. 30, 2021 (globe newswire) -- aerocentury corp. (“aerocentury” or the “company”) (nyse american: acy), today announced the closing of the sale of an aggregate 2,870,927 shares of common stock of the company at $3.85 per share, for an aggregate cash purchase price of approximately $11 million (the “transaction”) pursuant to the securities purchase agreement (the “securities purchase agreement”) between and among yucheng hu, hao yang, jing li, yeh ching, yu wang, tongtong ma, qiang zhang, yanhua li, and yiyi huang (collectively, the “plan sponsors”) and aerocentury. the transaction was previously approved by the u.s. bankruptcy court for the district of delaware (the “bankruptcy court”) on august 31, 2021.
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