YANTAI, China, Aug. 4, 2017 /PRNewswire/ -- Newater Technology, Inc. ("Newater" or the "Company") (Nasdaq: NEWA), a developer and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced that ViewTrade Securities, Inc., who acted as the managing underwriter and sole book-runner of the Company's initial public offering ("IPO"), has exercised the full over-allotment option to purchase an additional 210,000 common shares of the Company at the IPO price of $5.00 per share. As a result, the Company has raised $8,050,000 in gross proceeds, before underwriting discounts and commissions and offering expenses, through the issuance of a total of 1,610,000 common shares in the IPO.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (the "SEC") and was declared effective on July 27, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any state or jurisdiction.
The offering has been made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from ViewTrade Securities, via email: IB@Viewtrade.com or standard mail at ViewTrade Securities, 7280 W Palmetto Park Rd, #310, Boca Raton, FL 33433, Attn: Prospectus Department. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC's website at www.sec.gov.
About Newater Technology, Inc.
Founded in 2012 and headquartered in Yantai, Shandong Province, Newater is a China-based wastewater purification treatment company that focuses on the development, manufacture and sale of disk tube reverse osmosis and disk tube nanofiltration membrane filtration products that are used in the treatment, recycling and discharge of wastewater. The Company's products can be used across a wide spectrum of industries, including:
| - Leachate from landfills |
- Power plant waste water |
| - Wastewater from oil fields |
- Wastewater from gas production |
| - High acid wastewater |
- Desalination |
The Company also supplies hardware and engineered systems necessary to implement integrated solutions and provides related technical solutions in engineering support and installation, technical advice and other project related solutions.
For more information, please contact:
Tony Tian, CFA
Weitian Group LLC
Email: tony.tian@weitian-ir.com
Phone: +1-732-910-9692
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