Cemtrex (CETX) Reports $5.4M Registered Direct Offering Priced at $2.24/Sh

Cemtrex Inc. (NASDAQ: CETX) today announced it has entered into definitive agreements with institutional investors for the purchase and sale of shares of its common stock at a purchase price of $2.24 per share in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of $5.4 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about June 12, 2020, subject to the satisfaction of customary closing conditions.

Cemtrex intends to use the proceeds for general corporate purposes, including accelerating its technology development, sales, and marketing activities in key growth segments including Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in security applications. Additionally, the proceeds will strategically position the Company for attractive acquisition opportunities that may be available due to the current economic environment.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

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