Brean Murray, Carret & Co. Completes $11.1 Million Financing and Reverse Merger for China-Based Real Estate Developer
NEW YORK, April 20 /PRNewswire/ -- Brean Murray, Carret & Co. (BMC) announced today that it served as financial advisor on a reverse merger transaction between Dragon Acquisition Corporation and Leewell Investment Group Limited, a China-based real estate developer. Concurrent with the closing of the reverse merger, the Company completed a private placement of 2,774,700 units at a price of $4.00 per unit for aggregate gross proceeds of $11.1 million. BMC served as exclusive placement agent for the financing.
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The merged entity will change its name to China Oumei Real Estate Inc. The Company intends to use the net proceeds from the placement to accelerate current projects under construction, accelerate planned development projects using land reserves it currently owns and acquire additional land reserves.
China Oumei Real Estate Inc. is a leading real estate developer in greater Qingdao, Shandong Province, China. The Company develops and sells residential and commercial properties to middle and upper income customers in Shandong Province, including the cities of Qingdao, Weihai and Weifang, as well as in other provinces of China.
About BMC
Brean Murray, Carret & Co. is a research-driven investment bank and asset management firm, dedicated to Small and Midcap growth companies and their investors. BMC focuses on delivering high quality investment ideas and investment banking services to institutional and corporate clients in the following 5 verticals: Consumer Products and Retailing, Healthcare, Natural Resources, Technology and private/publicly traded Chinese Companies. Services include equity research, investment banking, institutional sales and trading, and asset management.
Headquartered in New York City, the company also maintains offices in Boston, Chicago, San Francisco and Beijing, China. In addition, the company is well known for its sector specific investment conferences. For more information on the company, please visit www.breanmurraycarret.com.
SOURCE Brean Murray, Carret & Co.
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