Recon Technology Announces Pricing of Initial Public Offering on NASDAQ
July 30 2009 - 8:00AM
Business Wire
Recon Technology, Ltd. (Nasdaq: RCON), a leading Chinese
non-state-owned oil and gas automation services provider, announced
today its initial public offering of 1,700,000 ordinary shares at
$6.00 per share. These ordinary shares will begin trading today
under the ticker symbol "RCON” on the Nasdaq Capital
Market.
Of the 1,700,000 shares sold in the offering, all of the shares
were sold by Recon Technology.
Anderson & Strudwick, Inc. acted as the lead placement agent
for the offering.
Recon’s registration statement relating to these securities has
been declared effective by the U.S. Securities and Exchange
Commission.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
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.
A copy of the prospectus
relating to the offering may be obtained from:
Mac Downs, Senior Vice President Anderson & Strudwick, Inc. 707
East Main Street, 20th Floor Richmond, VA 23219 Phone: 804-344-3809
E-mail:
mdowns@andersonstrudwick.com
About Recon Technology,
Ltd
For over 10 years, Recon Technology, Ltd. has provided leading
Chinese oil and gas companies with automation services that
increase efficiency and profitability in exploration, extraction,
refining and processing. Recon's specialized proprietary software
and hardware manage the oil production and process in real-time
thereby increasing extraction levels, reducing impurities in
extracted petroleum and lowering production costs. Recon's
technology is based on three software copyrights, eight product
patents and four pending patents. Recon Technology is the first
Chinese non-state-owned oil and gas service company to go public in
the U.S. More information may be found at http://www.recon.cn or
e-mail: recon@hawkassociates.com.
Information for investors, including an investment profile about
Recon is available at
http://www.hawkassociates.com/profile/rcon.cfm. Investors may
contact Susan Zhou, Hawk Associates, at (305) 451-1888, e-mail:
recon@hawkassociates.com. An online investor kit including press
releases, current price quotes, stock charts and other valuable
information for investors is available at
http://www.hawkassociates.com.
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by the
cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the company
disclaims any obligation to update any forward-looking statements
to reflect events or circumstances after the date hereof.
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