>>
Home / Knowledge / News / Fashion / China Shoe Holdings inks ELC accord with Magellan Global Fund

China Shoe Holdings inks ELC accord with Magellan Global Fund

25
Mar '08
China Shoe Holdings announced that it has entered into an equity line of credit agreement ("ELC") with Magellan Global Fund, LP (Magellan) that provides China Shoe with the option to draw down up to $2 million of equity funding by Magellan at any time over a two year period commencing with the effectiveness of a registration statement to be filed by the company.

China Shoe management is pleased to point out that the terms of the financing are beneficial to the long-term growth on the company. Draw downs on the ELC will be at China Shoe's sole discretion.

If China Shoes elects to make a draw under the agreement, the shares to be issued will be priced at an 8% discount to the average closing bid price of China Shoe's shares during the pricing period which is at the time of the draw with a "floor price" of $0.07.

Because there is a floor price, the company will not be subject to a "death spiral" or other dilutive terms. In addition, there are no warrants, stock options or any type of preferred securitization, keeping the transaction simple and straight-forward.

In connection to this transaction, China Shoe has paid to Magellan a non- refundable fee of $40,000 through the issuance of an additional 571,429 restricted shares.

A registration statement relating to these securities will be filed in the short future. Upon effectiveness of the registration statement, an additional fee of $40,000 will be payable to Magellan.

"We aredelighted with the agreement with Magellan Global Fund. The completion of this funding will enable our continual expansion, especially on the execution of our retail strategy," according to Mr. Gu XianZhong, Chairman and CEO of China Shoe.

"In addition, we believe the terms of the equity line of credit agreement is competitive and it provides us with excellent financial flexibility for the future while minimizing dilution to shareholders."

China Shoe Holdings Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 25th May 2022

Businessmen in Bangladesh urge govt not to hike gas, power prices

Bangladesh businessmen have called for not raising gas and...

Pic: Shutterstock

E-commerce | On 25th May 2022

Online revenue growth top priority for brands in US: Survey

Over 50 per cent brands experienced online revenue growth of between...

Pic: Michael Gordon / Shutterstock.com

Retail | On 25th May 2022

US department store chain Nordstrom’s net sales up 18.7% in Q1 2022

American luxury store chain Nordstrom, Inc. has reported first...

Interviews View All

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Axel Gómez-Ortigoza,

Axel Gómez-Ortigoza

Using cutting-edge technology modelled on nature’s own design, Spain-based ...

Danielle Statham,

Danielle Statham

<font face="Work Sans"><span style="font-size: 16px;">Twenty-five years...

Mohammad Ali Khokon,

Mohammad Ali Khokon

<div>The Bangladesh Textile Mills Association (BTMA) is the national trade ...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Claudio Fracasso, FARÈ

Claudio Fracasso
FARÈ

Since 1970, Italy-based company FARÈ has been designing and manufacturing...

Ingo Soller, TWE Group

Ingo Soller
TWE Group

The TWE Group is one of the leading global players in the nonwovens...

Maria Camila Giraldo, Brand - Pam & Gela

Maria Camila Giraldo
Brand - Pam & Gela

Maria Camila Giraldo is a Colombian actress, writer and entrepreneur...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Ester Kubisz, Label - Ester Kubisz

Ester Kubisz
Label - Ester Kubisz

Ester Kubisz, a London-based designer and founder of her eponymous label,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Arvind Limited
EMBEE CORPORATION
Hela Clothing Pvt Ltd
Eastman Chemical Company
Asos
Sportswear Company Spa
Vianney Textil Hogar S.A. De C.V.
Gloria Jeans
Tommy Hilfiger
C;&A Sourcing International Ltd
TEXVALLEY MARKET LIMITED
Messe Frankfurt Exhibition GmbH
Dow Silicones Corporation
J ;& P Coats
Tuyap Tum Fuarcilik Yapim A.S.
Istanbul Fuarcilik A.S.
Itema Weaving (India) Private Limited
Loris Bellini S.r.l.
Stahl Holdings B.V.,
Abit
Lacoste (Wanchai)
VNU Exhibitions Asia
Bluesign Technologies Ag
The Top Form Brassiere Manufacturing Company Limited
Nandan Denim Limited
MAS Active / MAS Kreeda / MAS Bodyline
TÜYAP IHTISAS FUARLARI A.S.
Officina Meccanica Dora Enrico Srl
Thermore (Far East) Ltd.
Reiter India Private Limited
Groz-Beckert East Asia LLP
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
BTSR International S.P.A.
Recron Polyester from Reliance Industries Limited
China World International Exhibition Company Limited
Gatsby Africa
CSGIA(China Screen Printing & Graphic Imaging Association)
Saurer Textile Solutions Pvt. Ltd.
THE BOMBAY DYEING ;& MFG.CO. LTD
G-Star Raw C.V.
Italian Trade Commission
Palexpo SA
Landmark Group
Equinox Impex India
Sportmaster Ltd.
Midas Clothing Limited
Chico’ FAS
Puma
KIABI
EUROVET ASIA LTD
Walmart
Rayonese Textile Inc., Division de Culp Inc.
Tory Burch Hong Kong Ltd
Tchibo GmbH
Newtech Textile Technology Development (Shanghai) Company Limited
Alix Partners
Calvin Klein
Lisa S.P.A.
Maceton Limited
DuPont de Nemours, Inc.,
Rieter India Private Limited
Xtema - Thomas Lebherz Textilmaschinen
Aramark Uniform ;& Career Apparel, LLC
The LYCRA Company Singapore  Pte. Ltd
Groz-Beckert KG
Mayer & Cie. GmbH & Co. KG
GHCL LIMITED
Haelixa AG
UBM China (Shanghai)
Seasalt Limited
EPCH
Amazon China
Target Corporation (MN)
Permoda(Koaj/Armi/Pronto/Bkul)
TESCO INTERNATIONAL SOURCING LIMITED
BRINKMANN GMBH
Karl Mayer Textilmaschinenfabrik GmbH
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
LC Waikiki
Sainsbury's Argos Asia Limited
Indofil Industries Limited - Specialty & Performance Chemicals Division
International Textile Manufacturers Federation
OVS Hong Kong Sourcing Ltd.
Woolmark Services India Pvt. Ltd.
IFF Media Ag - International Media Services
TESTEX AG, Swiss Textile Testing Institute
USTER
APLF Limited
GIOVANNI BOZZETTO S.p.A.
Eurofins BLC Leather Technology Centre Ltd
Rosset ;& Cia Limited
Pt. Peraga Nusantara Jaya Sakti
Alison Hayes Romania
IDH – The Sustainable Trade Initiative
G.A.S. unternehmenskommunikation gmbh
Under Armour Global Sourcing Ltd
FESPA (Reigate)
Copenhagen Fashion Summit
DyStar India Pvt. Ltd
Page Industries Limited (Bangalore)
Cat Tuong Real Estate Group Joint Stock Company
Babyshop
Flainox S.r.l.
Applied DNA Sciences Inc
Splash
Weitmann & Konrad GmbH & Co. KG
Nihalani Events Management
Brandix Lanka Limited
Color Service s.r.l.
CGS Inc.
Mesdan SPA
ITMA Services Pte Ltd
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
JES MEDIA, INC
N9 World Technologies Private Limited
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
H. Stoll AG & Company KG
The LYCRA Company Singapore  Pte. Ltd
Desigual - ABASIC, S.A.
Colours India Inc
Esprit Europe Services GmbH
Lenzing Aktiengesellschaft
Boardriders Asia Sourcing Limited
Recron Polyester from Reliance Industries Limited
Phong Phu international JSC (PPJ)
FULGAR SpA
H;&M Hennes ;& Mauritz (Far East) Ltd
Varner AS Retail
Zydex Industries
International Sourcing Expo Australia
Aleph Srl
Grasim Industries Limited
Green Fibre
Gap International Sourcing Limited
Kern – Liebers Textile
COTTON COUNCIL INTERNATIONAL
SHAHI Exports Pvt Ltd
BIMBA ;& LOLA SL
Thai Trade Center
NITI Aayog
Brückner Trockentechnik GmbH & Co. KG
SYNERGIES HONG KONG LIMITED
Jindal Worldwide Limited
IKEA of Sweden AB
Zünd Systemtechnik AG
Marzoli Machines Textile s.r.l.
NV Michel Van de Wiele
Lifestyle
Savio Macchine Tessili S.P.A.
GERBER TECHNOLOGY LTD.
IIGM Private Limited
Meera Dyestuff Industries
Infor (Hong Kong) Limited
Bluestem Global Sourcing Limited
Aquarelle Clothing Limited
X-Rite Asia Pacific Limited (HK)
Inter Expo Center Ltd.
Sateri (Jiujiang) Fiber Co.,Ltd
Performance Days
Restoque S.A.
Lululemon Athletica Inc
Datacolor AG Europe
Tradewind International Servicing
Indo Tex
Jiangsu Yingyang Nonwoven Machinery Company Limited
BIANCA
Datatex Consulting Srl
Messe Duesseldorf
Coats Digital Limited
John Varvatos
Shanghai  Aige Exhibition Service Co., Ltd
Lectra Technologies India Pvt Ltd.
Helly Hansen Far East Ltd
Lottmann Communications
Vardhman Textile Ltd
Shima Seiki Mfg. Ltd.
Kornit Digital Asia Pacific Ltd
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Chori Company Limited
KAS Direct Sourcing
Comasia Limited
Huntsman (Singapore) Pte Ltd
Gokaldas Exports Limited
K AND D ITMACH EXPOSITIONS LLP
BTC Textiles LLC
ZAITEX spa
PVH Corporation
Thai Acrylic Fibre Company Limited
Truetzschler India Private Limited
Taiwan Textile Federation (TTF)
Etam Group Strategy Hong Kong Limited
Benetton Group
Lenzing Aktiengesellschaft - India
Decathlon
Hirdaramani International Export Private Limited
Guess Europe Sagl,
Centric Software
T.T. Limited

May 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search