Quarterly report pursuant to Section 13 or 15(d)

Subsequent events

v3.7.0.1
Subsequent events
3 Months Ended
Mar. 31, 2017
Subsequent events  
Subsequent events

Note 11 — Subsequent events

 

On April 10, 2017, the Company completed a registered direct offering of the Company’s ADSs following its entry into a definitive agreement with Matrix Capital Management Company, LP. The Company sold 7,000,000 ADSs (representing to 42,000,000 ordinary shares) at a price of $6.00 per ADS.  The net proceeds were $41,765,000 after deducting offering expenses of $235,000.