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FUZHOU, China, Jan. 8, 2021 /PRNewswire/
Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ( Pingtan, or the Company ), a fishing company based in the People s Republic of China, announced today that it has sold $4.0 million of the Company s Series A Convertible Preferred Shares, par value $0.001 per share ( Series A Preferred Shares ), in a registered direct offering.
The Company entered into a definitive purchase agreement for the purchase of an aggregate of 4,000,000 Series A Preferred Shares at an offering price of $1.00 per share and a stated value of $1.10 that are convertible into the Company s ordinary shares. Each Series A Preferred Share is convertible into the Company s ordinary shares at a conversion price equal to the lesser of (i) $2.00 and (ii) 90% of the lowest volume weighted average price of the ordinary shares on a trading day during the ten trading days prior to the conversion date, but not lower than $0.44, subject to certain adjustments.
Pingtan Marine Enterprise s 20 Fishing Vessels to Resume Operations in Different Fishing Grounds after Modification and Rebuilding
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FUZHOU, China, Dec. 29, 2020 /PRNewswire/
Pingtan Marine Enterprise Ltd. (NASDAQ: PME) ( Pingtan or the Company ), today announced that 20 fishing vessels operated by the Company received approval from the Ministry of Agriculture and Rural Affairs of the People s Republic of China ( MARA ) for modification and rebuilding.
The Company acquired the exclusive operating rights to the 20 vessels on December 4, 2013 and the vessels were placed in the Indonesian waters for operations. Due to the impact of the moratorium implemented by the Indonesian government in December 2014, these vessels ceased operations in 2015. For the purpose of recovering fishing operations as early as possible and expanding the fishing capacity of its fleet, the Company decided to initiate modification and rebuilding projects for these vess
December 22, 2020
FUZHOU, China, Dec. 22, 2020 /PRNewswire/ Pingtan Marine Enterprise Ltd. (NASDAQ: PME) ( Pingtan or the Company ), today announced that the Company s rebuilt refrigerated transport vessel, Fu Yuan Yu Yun 992, and 6 large-scale squid jigging vessels set sail to sea in mid-December 2020.
China’s largest fishery support vessel leaving Shidao Port on December 12, 2020.
Pingtan’s 6 large-scale squid jigging vessels leaving Mawei Port on December 17, 2020.
The rebuilt refrigerated transport vessel, Fu Yuan Yu Yun 992, was completed in October 2020. Its vessel length is 132.06 meters and gross tonnage is 8374. It is the largest fishery support vessel in China so far as approved by the Ministry of Agriculture and Rural Affairs of the People s Republic of China. It left Shidao Port in Weihai City, Shandong Province on December 12, 2020 and will operate in the international waters.