CBL International Limited Announces $1.375 million Private Placement to Enhance Port Network and Alternative Energy Development

Core Viewpoint - CBL International Limited has successfully completed a private placement to enhance its service offerings in port network development and alternative energy sectors, reflecting investor confidence in its strategic direction [1][4]. Group 1: Private Placement Details - The company issued 2,500,000 shares of common stock, generating gross proceeds of approximately $1.375 million before expenses [2]. - The net proceeds will be allocated to network development, alternative energy and biofuel supply development, future acquisitions, working capital, and general corporate purposes [3]. Group 2: Management Commentary - Mr. Teck Lim Chia, Chairman & CEO, emphasized that the capital raise is a positive step for CBL, supporting growth in new energy and biofuel projects [4]. Group 3: Regulatory and Compliance - CBL has entered into a Registration Rights Agreement with the purchasers, committing to file a registration statement with the SEC within 30 days of the private placement closing [5]. - The shares issued in the private placement are not registered under the Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption [6]. Group 4: Company Overview - CBL International Limited, listed on NASDAQ as BANL, is a marine fuel logistic company established in 2015, operating in over 55 major ports across the Asia-Pacific region [8]. - The company promotes the use of alternative fuels and holds ISCC EU and ISCC Plus certifications [8].