Jingwei International Limited (“Jingwei”) announced that it has raised $16,975,000 in a private placement of common stock and warrants. The net proceeds of the private placement will be used to purchase equipment for storage and maintenance of data, purchase of new data, and working capital. Coincident with the private placement, Jingwei entered into a share exchange agreement with a public shell company, whereby it became a wholly-owned subsidiary of the public company. M.M. Dillon & Co. (“Dillon”) acted as sole placement agent for the transaction.
About Jingwei International Limited:
Jingwei is a leading technology services provider in China specializing in software and data mining services. Jingwei’s software services include a full-range of billing systems, provisioning solutions and decision support and customer relationship management systems that can be easily integrated into a customer’s existing software platform.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.