Navigation Links
China Biologic Products Enters Into Private Placement Agreements to Raise $9.6 Million
Date:6/8/2009

TAIAN CITY, China, June 8 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that the Company has entered into a securities purchase agreement with certain accredited investors led by Essence International Investment Limited, pursuant to which the Company will issue 3.8% senior secured convertible notes due 2011 (the "Notes"), in the aggregate principal amount $9,554,140. The Notes are convertible into shares of China Biologic's common stock at a conversion price of $4.00 per share. Along with the Notes, the Company issued warrants to purchase up to 1,194,268 shares of the Company's common stock at a price of $4.80 per share. The Company intends to use the proceeds to pay part of the purchase price for the interests it recently acquired in Xi'an Huitian Blood Products Co., Ltd. and Chongqing Dalin Biologic Technologies Co., Ltd. and for working capital and general corporate purposes.

"This private placement financing provides us with sufficient working capital as we integrate our two recent acquisitions into our existing operations," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "Going forward, we anticipate that the cash flows generated by these acquisitions will provide a solid financial basis for our future growth. Furthermore, we believe that our new investors are highly experienced in the health care industry, will provide us with valuable insight as we increase the scale of our business."

The securities issued in this private placement have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. Accordingly, these securities may not be sold by investors in the United States, except pursuant to an effective registration stateme
'/>"/>

SOURCE China Biologic Products, Inc.
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4

Related biology technology :

1. Chinas Vice Premier, Li Keqiang, Visits Sinovac to Inspect H1N1 Vaccine Production Preparation
2. Gerresheimer Opens New High-Tech Production Facility for Pharma Glass in China
3. China-Biotics, Inc. to Attend Digestive Disease Week 2009
4. China Sky One Medical, Inc. Obtains Production Approval for Two New Drugs
5. China Sky One Medical, Inc. Signs Agreement with Taiwan Golden Biotechnology Corp. on Development of New Anti-Cancer Drug
6. The Hamner Institutes Announce Partnership With China Medical City
7. China Sky One Medical, Inc. Appoints Pricewaterhouse Coopers to Help Develop a SOX 404 Compliance Program
8. Solvay Pharmaceuticals Announces Strategic Partnership With HUYA to Access new Drug Candidates From China
9. China Biologic Products Announces Strong First Quarter 2009 Results
10. China Dasheng Biotechnology Company Reports Unaudited Third Quarter FY2009 Financial Results
11. China Biologic Products Announces 2009 First Quarter Results Conference Call
Post Your Comments:
*Name:
*Comment:
*Email:
Other Biology Technology:Bunge Reports Fourth Quarter Net Income of $245 Million 2Bunge Reports Fourth Quarter Net Income of $245 Million 3Bunge Reports Fourth Quarter Net Income of $245 Million 4Bunge Reports Fourth Quarter Net Income of $245 Million 5Bunge Reports Fourth Quarter Net Income of $245 Million 6Bunge Reports Fourth Quarter Net Income of $245 Million 7Bunge Reports Fourth Quarter Net Income of $245 Million 8Bunge Reports Fourth Quarter Net Income of $245 Million 9Bunge Reports Fourth Quarter Net Income of $245 Million 10Bunge Reports Fourth Quarter Net Income of $245 Million 11Bunge Reports Fourth Quarter Net Income of $245 Million 12Bunge Reports Fourth Quarter Net Income of $245 Million 13Bunge Reports Fourth Quarter Net Income of $245 Million 14Bunge Reports Fourth Quarter Net Income of $245 Million 15Bunge Reports Fourth Quarter Net Income of $245 Million 16Bunge Reports Fourth Quarter Net Income of $245 Million 17Bunge Reports Fourth Quarter Net Income of $245 Million 18Bunge Reports Fourth Quarter Net Income of $245 Million 19Bunge Reports Fourth Quarter Net Income of $245 Million 20ADVENTRX to Present Complete ANX-530 Pharmacokinetic Data at the 2008 American Association for Cancer Research Annual Meeting 2ADVENTRX to Present Complete ANX-530 Pharmacokinetic Data at the 2008 American Association for Cancer Research Annual Meeting 3Genes as Time Machines 2