LOS ANGELES, CA – WestPark Capital, Inc. announced today the closing of another WRASP with China Architectural Engineering, Inc. (AMEX: RCH). A WRASP is a unique process in which a Company becomes publicly reporting through a share exchange and trades directly on a Senior Exchange such as the American Stock Exchange. A WRASP involves a comprehensive set of interrelated transactions managed by WestPark Capital, a FINRA registered broker-dealer.
“With our second WRASP, we believe we have established a proof of concept and a new means through which fast growing, profitable companies are able to list on a reputable exchange, raise capital, as well as promote investor and regulatory visibility, thereby allowing them to grow their operations. As a result, we are seeing an increasing number of clients that want to undertake this process.” stated Rick Rappaport, CEO of WestPark Capital, Inc.
Remarking on the listing, Mr. Ken Luo, Chairman and CEO of China Architectural Engineering, said, “The approval of our shares for listing on the American Stock Exchange is an important milestone in the growth of our Company. We believe that an U.S. national exchange listing may provide China Architectural Engineering with a number of benefits, including increased visibility in the financial community and a larger potential investor base, as we strive to continue to grow our business within and beyond China.”
WestPark Capital, Inc. was the sole underwriter for the offering. A copy of the prospectus relating to the offering may be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, CA 90067 or by phone at (310) 843-9300 or facsimile (310) 843-9304 or email firstname.lastname@example.org.
WestPark Capital is a leading full-service investment bank dedicated to providing innovative, professional financial services to emerging growth companies headquartered in Los Angeles, California. WestPark provides a wide range of services for both private and public companies, as well as to individuals and institutional investors worldwide. WestPark Capital is a leading financial advisor for emerging growth companies. We offer our clients a comprehensive range of services including WRASPs, initial public offerings, follow-on offerings and private placements, and financial advisory services.
China Architectural Engineering (CAE), which began operations in 1992, specializes in the design, engineering and installation of high-end specialty curtain wall systems, including glass curtain walls, stone curtain walls, metal curtain walls, roofing systems, and related products, for public works projects and commercial real estate. CAE has designed and installed nearly one hundred projects throughout China, including the National Grand Theater, Exhibition Conservatory of Beijing Botanical Garden, The COSCO Tower at Changlian Avenue Beijing, and the Wumen Exhibition Hall in Beijing’s Forbidden City, and a number of commercial structures in Southeast Asia. For further information on China Architectural Engineering please visit www.caebuilding.com.
In addition to historical information, the statements set forth above include forward-looking statements (including, without limitation, statements concerning the commencement of trading on the American Stock Exchange, the potential benefits of a U.S. national exchange listing, the Company’s growth in China and global expansion, the Company’s visibility in the financial community and the Company’s compliance with the listing standards of the American Stock Exchange) that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are also identified through use of the words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “palan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the company’s reports on Forms 10-K, 10-Q and other filings with the Securities and Exchange Commission.
For further information, please contact:
WestPark Capital, Inc. (310) 843-9300
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067