Navigation Links
American Oriental Bioengineering Proposes Offering of $85 Million of Convertible Notes
Date:7/7/2008

NEW YORK, July 7 /PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB) today announced its intention to offer, subject to market conditions and other factors, $85 million aggregate principal amount of Convertible Senior Notes due 2015 to qualified institutional buyers in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

AOB currently expects to use approximately $30 million of the proceeds from the offering to repurchase shares of its common stock pursuant to a prepaid forward share repurchase transaction with an affiliate of the placement agent, as counterparty. AOB expects to use the remaining net proceeds from the offering for general corporate purposes, including for working capital purposes and to fund possible acquisitions of and investments in complementary businesses and products. In connection with the prepaid forward repurchase transaction, AOB has been advised that the counter party may enter into various derivative transactions or purchase or sell shares of AOB's common stock concurrently with or following the offering of the convertible notes. The counterparty has also advised AOB that it may enter into, or unwind, various derivatives or purchase or sell shares of AOB's common stock in secondary-market transactions following the offering of the convertible notes. These activities may have the effect of increasing, or preventing a decline in, the market price of AOB's common stock concurrently with or following the offering of the convertible notes. In addition, any hedging transactions by the counterparty following the offering of the convertible notes may have an adverse impact on the trading price of AOB's common stock and the value of the convertible notes.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities (including the shares into which the notes are convertible). Any offers of the securities will be made only by means of a private placement memorandum. The convertible notes and the shares of common stock issuable upon conversion of the convertible notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Cautionary Statement:

The statements in this release relating to the terms and timing of the proposed offering and the expected use of proceeds from the offering are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether or not AOB will offer the notes or consummate the offering, the final terms of the offering, prevailing market conditions, the anticipated principal amount of the notes which could differ based upon market conditions, the anticipated use of the proceeds of the offering which could change as a result of market conditions or for other reasons, the fact that future share repurchases will depend upon market conditions, interest rates and corporate considerations and the impact of general economic, industry or political conditions in the United States or internationally.

Shareholders of AOB are cautioned not to place undue reliance on its forward-looking statements, which speak only as of the date such statements are made. AOB does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this July 7, 2008 press release, or to reflect the occurrence of unanticipated events.

About American Oriental Bioengineering

American Oriental Bioengineering (NYSE: AOB) is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products in China.


'/>"/>
SOURCE American Oriental Bioengineering, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. SportCoatings; The North American Booster Club Association (NABCA); the Coatings Specialist Group New Booster Program Goes High Tech With Invisible Antimicrobial Defense
3. American Stock Exchange Lists The Common Stock Of Neuralstem, Inc.
4. American Oriental Bioengineering Announces Participation in September Investor Conferences
5. Nektar Presents Positive Results from Phase 1 Clinical Trial of NKTR-118 (oral PEG-naloxol) at American College of Clinical Pharmacology Meeting
6. Rosetta Genomics to Present at the American Association of Cancer Research (AACR) "Molecular Diagnostics in Cancer Therapeutic Development" Conference
7. Tips from the Journals of the American Society for Microbiology
8. Trubion Pharmaceuticals Announces Upcoming Presentations at American College of Rheumatology Annual Scientific Meeting
9. Americas Heartland Launches Third Season Highlighting Contributions of American Farmers and Ranchers
10. American and European Parkinsons Sufferers Find Chinese Stem Cell Treatment Effective, Proving Western Debates Moot
11. AUDIO from Medialink and Pfizer: Hispanic Heritage Month Reminds Us Increasing Numbers of Hispanic-Americans Do Not Have Health Insurance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... ... April 20, 2017 , ... USDM Life Sciences ... life sciences and healthcare industries, is pleased to announce Holger Braemer as ... subsidiary “USDM Europe GmbH” based in Germany. , Braemer is an integral part ...
(Date:4/20/2017)... ... April 20, 2017 , ... ... technology applications, announced today that Chief Executive Officer (CEO) Debbie Gustafson has been ... is the global industry association connecting the electronics manufacturing supply chain. The mission ...
(Date:4/20/2017)... Israel , April 20, 2017  BrainStorm Cell Therapeutics ... technologies for neurodegenerative diseases, announced today that Chaim Lebovits ... Regenerative Medicine,s (ARM) 5 th Annual Cell & Gene ... EDT in Boston . In ... Officer & Chief Operating Officer, will participate in a panel ...
(Date:4/19/2017)... ... April 18, 2017 , ... Alisa Wright, founder and CEO ... from the Purdue College of Pharmacy in Lafayette, Indiana. , The Distinguished Alumni ... achievements in their careers and other scientific endeavors. , Wright began her career ...
Breaking Biology Technology:
(Date:4/13/2017)... 13, 2017 UBM,s Advanced Design and Manufacturing ... feature emerging and evolving technology through its 3D Printing ... run alongside the expo portion of the event and ... demonstrations focused on trending topics within 3D printing and ... manufacturing event will take place June 13-15, 2017 at the ...
(Date:4/11/2017)... April 11, 2017 Crossmatch®, a globally-recognized ... solutions, today announced that it has been awarded ... Projects Activity (IARPA) to develop next-generation Presentation Attack ... "Innovation has been a driving force within ... will allow us to innovate and develop new ...
(Date:4/11/2017)... BROOKLYN, N.Y. , April 11, 2017 /PRNewswire-USNewswire/ ... identical fingerprints, but researchers at the New York ... University College of Engineering have found that partial ... fingerprint-based security systems used in mobile phones and ... previously thought. The vulnerability lies in ...
Breaking Biology News(10 mins):