NEW YORK,\nNY \/ ACCESSWIRE \/ January 9, 2020<\/p>\n\n\n\n
We are\npleased to announce Yunhong Group has successfully acquired Nasdaq listed CTI\nIndustries Corporation which is headquartered in The United States. At the same\ntime, we have commenced renaming the listed Company to Yunhong CTI Ltd.<\/p>\n\n\n\n
On January\n3, 2020, Mr. Li, formally signed for the purchase of 500,000 newly issued Class\nA convertible preferred shares of CTI for US $5 million. The first $2.5 million\nis expected to be funded on or before January 10, 2020, while the balance of\n$2.5 million will close after certain conditions are met.<\/p>\n\n\n\n
In\naddition, Mr Li will appoint a new Director to the Board.<\/p>\n\n\n\n
Once the\ntransaction was announced the stock skyrocketed, closing Monday, January 6, up\n225%, from Friday\u2019s,\nJanuary 3, closing price. A record 22.9 million shares of the Company\u2019s stock\ntraded in one day.<\/p>\n\n\n\n
Mr. Li\n(picture below), created a significant new investment arrangement that enables\nYunhong CTI Ltd., to rapidly implement novel strategic and financial plans. The\nnewly funded Company intends to execute an amendment with its bank modifying\nits credit facility. The new investment arrangement also included the rapid\nsubmission of an initial plan to regain compliance with listing standards of the\nNasdaq Stock Exchange.<\/p>\n\n\n\n
The newly\nestablished Yunhong CTI Ltd., will update shareholders and future investors on the ongoing\ndevelopment of the Company, which has a very bright future.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK, NY \/ ACCESSWIRE \/ January 9, 2020 We are pleased to announce Yunhong Group has successfully acquired Nasdaq listed CTI Industries Corporation which is headquartered in The United States. At the same time, we have commenced renaming the listed Company to Yunhong CTI Ltd. On January 3, 2020, Mr. Li, formally signed for […]<\/p>\n","protected":false},"author":3,"featured_media":413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[20],"tags":[],"news_type":[41],"class_list":["post-412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_type-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/comments?post=412"}],"version-history":[{"count":1,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/412\/revisions"}],"predecessor-version":[{"id":5647,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/posts\/412\/revisions\/5647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/media\/413"}],"wp:attachment":[{"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/media?parent=412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/categories?post=412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/tags?post=412"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/arc-group.com\/wp-json\/wp\/v2\/news_type?post=412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}