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Article Excerpt
HARBIN, China, Sept. 23 /PRNewswire-Asia-FirstCall/ -- China Education Alliance, Inc. (NYSE Amex: CEU) announced today that it intends to offer, subject to market and other conditions, $17,391,304 of shares of its common stock. In connection with this offering, China Education will grant the underwriters an option to purchase an additional $2,608,696 of shares of common stock to cover any over-allotments.
China Education intends to use the proceeds from this offering to fund its operations and for general corporate purposes, such as additions to working capital, expansion of its business through internal growth or acquisitions, although it has no current commitments or agreements...
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