YANTAI, China, Aug. 2, 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 the closing of its initial public offering (the "IPO") of 1,400,000 of its common shares at a price to the public of $5.00 per share for a total offering size of $7,000,000 before underwriting discounts and commissions and offering expenses. The Company has granted the underwriter a 45-day option to purchase up to 210,000 additional shares. The offering closed on August 2, 2017 and shares began trading on July 28, 2017 on NASDAQ Capital Market under the symbol "NEWA".
ViewTrade Securities, Inc., a global provider of brokerage, investment banking, corporate/advisory and trading platform services, acted as sole book-running manager for the offering.
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
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
SOURCE Newater Technology, Inc.