MRO Magazine

Yulong Eco-Materials Announces Pricing of Initial Public Offering


June 26, 2015
By Business Wire News

PINGDINGSHAN, China

Yulong Eco-Materials Limited (Nasdaq:YECO) (‘Yulong’), a China based vertically integrated manufacturer of eco-friendly building products and a construction waste recycling company, today announced the pricing of its initial public offering of 2,250,000 shares of its ordinary shares at a public offering price of $6.25 per share, before underwriting discounts and commissions. The offering is scheduled to close on July 1, 2015, subject to customary closing conditions. Yulong has granted the underwriters a 45-day option to purchase up to an additional 337,500 ordinary shares to cover over-allotments, if any, at the public offering price, less the underwriting discounts and commissions. The gross proceeds to Yulong from the initial public offering are expected to be $14,062,500 before deducting underwriting discounts and commissions and other estimated offering expenses.

Yulong’s ordinary shares are expected to begin trading on the NASDAQ Capital Market on June 26, 2015 under the ticker symbol “YECO.”

Axiom Capital Management, Inc. is acting as the sole book-running manager and representative of the underwriters for the offering. Northland Capital Markets, ViewTrade Securities, Inc. and I-Bankers Inc. are acting as co-managers, while Cuttone and Co., Inc. is acting as financial advisor to Yulong.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 25, 2015. This offering is being made only by means of a written prospectus. Copies of the prospectus relating to the offering may be obtained by contacting Axiom Capital Management, Inc., Prospectus Department, 730 Third Avenue, 43rd Floor, New York, NY 10017, via telephone: 212-521-3800.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Yulong Eco-Materials
Yulong is a vertically integrated manufacturer of eco-friendly building products and a construction waste recycling company, located in the city of Pingdingshan in Henan Province, China. The Company is currently the leading producer of fly-ash bricks and concrete in that city and in late April 2015, it commenced its hauling and construction waste recycling operations.

Yulong Eco-Materials Ltd.
Sam Wu
Chief Financial Officer
samwu@yulongecomaterials.com
or
Investor Relations Counsel:
The Equity Group Inc.
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Vice President
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www.theequitygroup.com
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Jimmy Caplan, 512-329-9505
Managing Directing
jimmy@asia-irpr.com
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Managing Director
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