Published: March 10, 2010
China Security & Surveillance Technology, Inc. Announces Public Offering of Common Stock
SHENZHEN, China , March 10 /PRNewswire-Asia/ -- China Security &
Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq
Dubai: CSR), a leading integrated security and surveillance solution provider
in the P.R.C., today announced that it has filed a registration statement with
the Securities and Exchange Commission for the public offering by the Company
of 20,000,000 shares of its common stock. CSST has also granted the
underwriters a 30-day option to purchase up to an additional 3,000,000 shares
of common stock to cover over-allotments.
CSST expects to use proceeds from the sale of common stock for the
repurchase or repayment of its Tranche B Zero Coupon Guaranteed Senior
Unsecured Notes and for general corporate purposes, including future capacity
expansion, strategic acquisitions, capital expenditures and research and
development expenditures.
William Blair & Company, L.L.C., Brean Murray, Carret & Co., LLC and
Oppenheimer & Co. Inc. are acting as joint book running managers for the
offering. When available, a copy of the preliminary prospectus relating to
the offering may be obtained by contacting William Blair & Company, L.L.C.,
222 W. Adams Street, Suite 3300,Chicago, IL 60606, Attention: Syndicate
Department, by calling 312-364-8600, or from Brean Murray, Carret & Co., LLC,
570 Lexington Avenue,New York, NY 10022, Attention: Syndicate Department, by
calling 212-702-6667; or from Oppenheimer & Co. Inc., 300 Madison Avenue, 4th
Floor,New York, NY 10017, Attention: Syndicate Prospectus Department, by
calling 212-667-8563.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company, nor shall there
be any sale of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About China Security & Surveillance Technology, Inc.
Based inShenzhen, China, CSST designs, manufactures, sells, installs,
services and monitors electronic surveillance and safety products and
solutions, including related software, inChina. Its customers are mainly
comprised of government, commercial industrial and education entities. CSST
has built a diversified customer base through its extensive sales and service
network that includes branch offices and distribution points throughoutChina.
To learn more about the Company visit http://www.csst.com .
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking statements. Such
statements include, among others, those concerning our securities offering and
the anticipated use of the net proceeds of the offering, as well as all
assumptions, expectations, predictions, intentions or beliefs about future
events. Forward-looking statements can be identified by the use of forward-
looking terminology such as "will," "believes," "expects" or similar
expressions. Such information is based upon expectations of our management
that were reasonable when made but may prove to be incorrect. All of such
assumptions are inherently subject to uncertainties and contingencies beyond
our control and based upon premises with respect to future business decisions,
which are subject to change. We do not undertake to update the forward-
looking statements contained in this press release. For a description of the
risks and uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our most
recent Annual Report on Form 10-K filed with the Securities and Exchange
Commission ("SEC"), and our subsequent SEC filings. Copies of filings made
with the SEC are available through the SEC's electronic data gathering
analysis retrieval system at http://www.sec.gov .
For more information, please contact:
Company Contact:
Terence Yap, Chief Financial Officer and Vice Chairman
China Security & Surveillance Technology, Inc.
Tel: +86-755-8351-5634
Email: ir@csst.com
Investor and Media Contact:
Patrick Yu
Fleishman-Hillard Hong Kong
Tel: +852-2530-2577
Email: patrick.yu@fleishman.com
SOURCE China Security & Surveillance Technology, Inc.
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