Corporate News Blog - ChromaDex Completes $25 Million Strategic Investment; Adds Two New Directors to its Board
ACCESS Newswire
Research Desk Line-up: Valhi Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 23, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for ChromaDex Corp. (NASDAQ: CDXC), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CDXC. The Company announced on August 21, 2017, that it has completed the $25 Million Strategic Investment after receiving the third and final installment of $5.1 million. The Company's Board approved the third and final installment of the Strategic Investment at a special meeting held on August 10, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Chemicals - Major Diversified industry. Pro-TD has currently selected Valhi, Inc. (NYSE: VHI) for due-diligence and potential coverage as the Company reported on August 08, 2017, its financial results for Q2 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Valhi when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CDXC also brushing on VHI. Go directly to your stock of interest and access today's free coverage at:
The strategic investment is led by Mr. Li Ka-shing, a Hong Kong based businessman. The strategic investment is the result of the securities purchase agreement signed between Mr. Ka-shing and ChromaDex and started in April 2017.
Details and History of Strategic Investment
On April 27, 2017, ChromaDex and Mr. Li Ka-shing entered into a securities purchase agreement wherein ChromaDex agreed to sell up to $25 million of its common stock to Mr. Ka-shing via a private placement. As per the agreement, Mr. Ka-shing made an initial investment of $3.5 million through his Hong Kong based venture capital firm Horizons Ventures. Mr. Ka-shing has invested in many other Companies through Horizons Ventures like Facebook, Spotify, DeepMind, Siri, Impossible Foods, and Modern Meadow. The investment was made to power ChromaDex's future developments and growth internationally.
On May 25, 2017 Mr. Ka-shing invested $16.4 million as the second installment of the strategic investment in ChromaDex. The last and final installment was the current one.
The shares of common stock sold by Companies via private placement are not registered under the Securities Act of 1933 and cannot be sold in US unless an effective registration statement or an applicable exemption from the registration is sought by the Company as per the provisions of the Act. ChromaDex has complied to these provisions and entered into a registration rights agreement with the investors and filed the Form 8-K with the completed details of the transaction.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), was the exclusive placement agent in the private placement.
Addition of New Directors to the Company's Board
Following the completion of the investment, two additional directors were appointed to the Company's Board. The two members are Mr. Tony Lau, who was nominated by Champion River Ventures Limited, and Ms. Wendy Yu, who was nominated by Pioneer Step Holdings Limited. ChromaDex's Board accepted the nominations and both were appointed to the Company's Board as directors effective August 18, 2017. Mr. Lau has been associated with Horizons Ventures since 2014 and has been leading their consumer and retail segment. Ms. Yu has been associated with Horizons Digital Group since July 2012 is their Chief Digital Officer. She has been heading the overseas marketing and communications functions and is helping Horizons Ventures and its portfolio Companies to expand in the Asian markets.
About ChromaDex Corp.
Irvine, California based ChromaDex leverages its complementary business units to discover, acquire, develop, and commercialize patented and proprietary ingredient technologies that address the dietary supplement, food, beverage, skin care and pharmaceutical markets. In addition to their ingredient technologies unit, the Company's other business units include units focused on natural product fine chemicals, chemistry and analytical testing services, and product regulatory and safety consulting. The Company has collaborated with leading universities and research institutions and has been able to discover and license early stage, IP-backed ingredient technologies. The Company utilizes its in-house chemistry, regulatory and safety consulting business units to develop commercially viable ingredients. The Company's product portfolio of patented ingredient technologies includes NIAGEN® nicotinamide riboside, pTeroPure® pterostilbene, PURENERGY®, a caffeine-pTeroPure® co-crystal, IMMULINA™, a spirulina extract, and AnthOrigin™, anthocyanins derived from a domestically-produced, water-extracted purple corn.
Last Close Stock Review
ChromaDex's share price finished yesterday's trading session at $3.39, climbing 6.60%. A total volume of 318.16 thousand shares have exchanged hands, which was higher than the 3-month average volume of 288.54 thousand shares. The Company's stock price rallied 6.94% in the last three months and 21.07% in the past six months. The stock currently has a market cap of $160.11 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
