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OXNARD, Calif., July 25, 2018 (GLOBE NEWSWIRE) -- CDTi Advanced Materials, Inc. (Nasdaq:CDTI) (“CDTi” or “the Company”), a leader in advanced emission control technology, today announced the closing of its previously announced rights offering. At the closing, CDTi issued and sold an aggregate of 4,427,563 shares of its common stock at the subscription price of $0.50 per share, pursuant to the exercise of subscriptions and oversubscriptions in the rights offering from its existing stockholders. The Company received aggregate gross proceeds of approximately $2.2 million from the rights offering before deducting offering expenses.
The rights offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-204309) and prospectus supplement and accompanying prospectus on file with the Securities and Exchange Commission.
About CDTi Advanced Materials
CDTi develops advanced materials technology for the emissions control market. CDTi’s proprietary technologies provide high-value sustainable solutions to reduce hazardous emissions, increase energy efficiency and lower the carbon intensity of on- and off-road combustion engine systems. With a continuing focus on innovation-driven commercialization and global expansion, CDTi’s breakthrough Powder-to-Coat (P2C™) technology exploits the Company’s high-performance, advanced low-platinum group metal (PGM) emission reduction catalysts. Key technology platforms include Synergized PGM (SPGM™) and Spinel™. For more information, please visit www.cdti.com.
Moriah Shilton or Kirsten Chapman