Graphex group limited announces full exercise of over-allotment option in underwritten public offering

Royal oak, mich., aug. 26, 2022 (globe newswire) -- graphex group limited (nyse american: grfx), (“graphex”, or the “company”), a global leader in mid-stream processing of specialized natural graphite used for electric vehicle (ev) lithium-ion (li-ion) batteries, today announced that the underwriters of its previously completed underwritten public offering have exercised their over-allotment option to purchase an additional 704,347 american depositary shares (adss), each ads representing 20 ordinary shares, par value hk$0.01 per share, of the company, at the public offering price of $2.50 per ads less underwriting discounts and commissions, for aggregate gross proceeds of approximately $1.7 million before deducting underwriting discounts, commissions, and other estimated offering expenses. the 45-day over-allotment option was granted in connection with the company's previously announced underwritten public offering of 4,695,653 adss at a public offering price of $2.50 per share.
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