Navigation Links
Sinovac Announces Upsizing and Pricing of Common Share Offering

BEIJING, Jan. 27 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. ( SVA) ("Sinovac" or the "Company"), a leading China-based vaccine manufacturer, announced today that it has priced its public offering of 10,000,000 common shares at $5.75 per common share. Sinovac has granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,500,000 common shares on the same terms and conditions. This reflects an increase in the size of the offering from the previously announced offering of 8,650,000 common shares, plus underwriters' over-allotment option to purchase 1,297,500 common shares. The closing of the offering is subject to customary closing conditions and the common shares are expected to be delivered on February 2, 2010.

Sinovac will receive net proceeds of approximately $53.8 million, or $62.0 million if the underwriters exercise their over-allotment option in full, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. Sinovac plans to use the net proceeds of the offering to fund the acquisition and expansion of production facilities, the enhancement of production lines, the research and development of product candidates, the expansion of product pipeline, and general corporate purposes (including an undetermined amount for potential acquisitions).

UBS Securities LLC and Piper Jaffray & Co. are serving as joint bookrunners for the offering.

The offering is being made under Sinovac's currently effective shelf registration statements on Form F-3 filed with the Securities and Exchange Commission on November 18, 2009 and January 27, 2010. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone: 888-827-7275, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis MN 55402, U.S.A., telephone: 1-800-754-4781.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for a number of different infectious diseases including enterovirus 71, pneumococcal disease, Japanese encephalitis, haemophilus influenzae type b (Hib), meningitis, rabies, chickenpox, mumps and rubella. Sinovac is also conducting field trials for independently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law.

    For further information, please contact:

     Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x 9871
     Fax:   +86-10-6296-6910

     Amy Glynn/Stephanie Carrington
     The Ruth Group
     Tel:   +1-646-536-7023/7017

     Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7033

SOURCE Sinovac Biotech Ltd.

SOURCE Sinovac Biotech Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Sinovac Announces Postponement of Annual General Meeting
2. Sinovac Requests Extension for Annual Shareholders Meeting
3. Sinovac Reports Top-Line Preliminary Phase II Results of Pandemic Influenza (H5N1) Whole Viron Vaccine
4. Sinovac Closes $9.75 Million Private Placement
5. Sinovac Biotech Ltd. Schedules 2007 Annual Meeting of Shareholders
6. Sinovac Announces Adjournment of Annual General Meeting
7. Sinovac to Host Conference Call to Report Fourth Quarter and Full Year 2007 Financial Results
8. Sinovac Reports Fourth Quarter and Full Year 2007 Financial Results
9. Sinovac Biotech Holds Annual General Meeting
10. Sinovac to Present at the Brean Murray, Carret & Co. All-Cap All-China Conference and the Roth China Discovery Tour 2008
11. Sinovac Receives RMB 20 Million Purchase Order for Healive from Chinas Ministry of Health to Vaccinate Earthquake Victims
Post Your Comments:
(Date:11/27/2015)... November 27, 2015 ... popularity of companion diagnostics is one of ... market with pharmaceutical companies and diagnostic manufacturers ... tests. . --> ... report on global cancer biomarkers market spread ...
(Date:11/26/2015)... MUMBAI , November 26, 2015 ... --> Accutest Research ... accredited Contract Research Organization (CRO), has ... Chase Cancer Center - Temple Health ... ,     (Photo: ) ...
(Date:11/26/2015)... , November 26, 2015 ... device company specializing in imaging technologies, announced today that it ... as part of the Horizon 2020 European Union Framework Programme ... a large-scale clinical trial in breast cancer. , ... , --> --> The ...
(Date:11/25/2015)... 2015 --> ... - 2020 report analyzes that automating biobanking workflow ... in long-term samples, minimizing manual errors, improving the ... manual errors such as mislabeling or inaccurate sample ... plays a vital role in blood fractionation, DNA ...
Breaking Biology Technology:
(Date:11/26/2015)... -- Research and Markets ( ) has announced ... Technology and Patent Infringement Risk Analysis" report to ... --> Fingerprint sensors using capacitive technology represent a ... vendor Idex forecasts an increase of 360% of the ... of the fingerprint sensor market between 2014 and 2017 ...
(Date:11/20/2015)... NXTD ) ("NXT-ID" or the ... mobile commerce market and creator of the Wocket® smart ... recently interviewed on The RedChip Money Report ... on Bloomberg Europe , Bloomberg Asia, Bloomberg Australia, ... NXTD ) ("NXT-ID" or the "Company"), a biometric authentication ...
(Date:11/19/2015)...  Based on its in-depth analysis of the biometric ... the 2015 Global Frost & Sullivan Award for Product ... this award to the company that has developed the ... the market it serves. The award recognizes the extent ... customer base demands, the overall impact it has in ...
Breaking Biology News(10 mins):