China In-Focus: China Security To Raise $25.35 Million From Share offering

(Comment on this article at http://www.financialwire.net/2009/08/26/china-in-focus-china-security-to-raise-2535-million-from-share-offering/)

August 26, 2009 (FinancialWire) -- China Security & Surveillance Technology, Inc. (NYSE: CSR) said it has entered into definitive agreements with accredited investors to sell in a registered direct offering 4.056 million shares of its common stock at $6.25 per share for gross proceeds to the company of $25.35 million.

The company has issued to the investors warrants to purchase 1.014 million shares of common stock at $8.62 per share for a term of one year.

China Security plans to use the net proceeds to repay notes issued to Citadel Equity Fund.

Shenzhen, China-based China Security & Surveillance Technology manufactures, distributes, installs and services surveillance and safety products and systems as well as develops surveillance and safety related software in China.

The company's customers are mainly comprised of commercial and government entities and non-profit organizations.

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