June 1, 2015 – LOS ANGELES, /PRNewswire/ — Nova LifeStyle, Inc. (NASDAQ: NVFY), a U.S.-based fast-growing, innovative designer, manufacturer and distributor of modern LifeStyle furniture, announced today the closing of its previously announced $4.0 million registered direct offering. As previously disclosed, Nova LifeStyle sold to institutional investors, in a registered direct offering, an aggregate of 2,970,508 shares of common stock. Two million shares of common stock sold to the investors at a negotiated purchase price of $2.00 per share. A total of 970,508 shares of registered common stock were also issued to holders of Nova LifeStyle’s 2014 Series A and Series C Warrants in exchange for the termination and surrender of said warrants.
Maxim Group acted as a sole placement agent for Nova Lifestyle’s $4.0 million registered direct.