HOUSTON, October 16, 2012 -- Synthesis Energy Systems, Inc. (NASDAQ: SYMX) ("SES") announced the closing of its strategic equity investment from Shanghai Zhongmo Investment Management Co., Ltd. ("Zhongmo") of $6.27 million for 4,177,335 shares of SES common stock. In addition, SES has also received the remaining $596,090 for the remaining 397,393 Hongye shares. These transactions complete the combined $15.5 million strategic investment from Hongye and Zhongmo announced June 18, 2012, for a total of 10,352,428 shares.
SES provides technology, equipment and engineering services for the conversion of low rank, low cost coal and biomass feedstocks into energy and chemical products. Zhongmo is a private company principally engaged in providing financial and management consulting and advisory services to Chinese enterprises looking for investment and financing solutions domestically as well as abroad. Hongye one of the top 100 private enterprises in Inner Mongolia and operates in three major business areas - energy and natural resources, finance and bio-pharmaceuticals.
SES was represented by corporate partner Rob Reedy and associate Kevin Poli of Porter Hedges LLP.
For additional information, see the SES press release here, or refer to the news link below.
"Synthesis Energy Systems closes $15.5 Million Equity Investment," Finance Monthly