China Direct to Sell Stock, Warrants in Direct Offering, Shares Off 6%
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China Direct Industries (CDII) is down after it says it will sell 2222223 shares of its common stock and warrants to purchase up to 777778 shares of its common stock to accredited investors. The purchase price per share of the common stock will be $1.80. The warrants will have an exercise price of $2.00 per share and will be exercisable starting six months from the closing date for a period ending…