Navigation Links
China-Biotics, Inc. Announces Closing of Public Offering of Common Stock
Date:10/5/2009

SHANGHAI, China, Oct. 5 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. (Nasdaq: CHBT) ("China-Biotics", "the Company"), a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced the closing of its previously announced underwritten public offering. The Company sold 4,600,000 shares of its common stock at $15.00 per share in its public offering, resulting in approximately $65.5 million in net proceeds, after deducting underwriting discounts and commission, but excluding estimated offering expenses.

China-Biotics anticipates using the net proceeds from the offering for general corporate purposes, including expanding its retail operations, expanding its products, acquiring additional retail outlets and for general working capital purposes.

Roth Capital Partners, LLC, acted as the sole manager of the offering. A copy of the final prospectus relating to the offering may be obtained from Roth Capital Partners, LLC, Attention: Equity Capital Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at (949) 720-7194, or via email at rothecm@roth.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About China-Biotics, Inc.

China-Biotics, Inc., a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company has operations in Shanghai. Its proprietary product portfolio contains live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang. China-Biotics plans to launch 300 Shining brand retail outlets in major cities in China. Currently, China-Biotics is strategically expanding its production capacity of probiotics to meet growing demand in the bulk additive market. For more information, please visit http://www.chn-biotics.com .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to market existing and new products, ability to access to capital for expansion, and changes from anticipated levels of sales, future national or regional economic and competitive conditions, market acceptance of its retail store concept, changes in relationships with customers, dependence on its flagship product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Lewis Fan, CFO
    China-Biotics, Inc.
    E-mail: lewisfan@chn-biotics.com
    Web: www.chn-biotics.com


    CCG Investor Relations
    Crocker Coulson, President
    Phone: +1-646-213-1915 (New York)
    Email: crocker.coulson@ccgir.com
    Web: www.ccgirasia.com

SOURCE China-Biotics, Inc.


'/>"/>
SOURCE China-Biotics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. China-Biotics, Inc. Announces Conference Call to Discuss First Quarter Fiscal 2010 Financial Results
2. China-Biotics, Inc. Reports Third Quarter 2009 Financial Results
3. China-Biotics, Inc. Announces Conference Call to Discuss Third Quarter 2009 Financial Results
4. China-Biotics, Inc. Signs Agreements With Four Additional Food Manufacturers
5. China-Biotics, Inc. Announces Conference Call to Discuss Second Quarter 2009 Financial Results
6. China-Biotics, Inc. Sees No Impact on Its Business From Dairy Products Safety Concerns
7. China-Biotics, Inc. Expands Retail Network to 60 Shining Retail Centers
8. Trapeze Networks Announces Trapeze Medical, Bringing Medical-Grade Mobility to Healthcare Market
9. Vertical Measures Announces its Version of Healthcare Reform by Giving Away 5K in Internet Marketing Services
10. Arcxis Biotechnologies Announces Release of First Commercial Product for Molecular Analysis
11. The Pennsylvania Breast Cancer Coalition Announces Request for Applications for Income Tax Check-Off Research Grants
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/4/2016)... , ... May 04, 2016 , ... ... master charity program created to assist the people of their local community. The ... nonprofit organizations and community leaders. Their hope is to bring awareness to important ...
(Date:5/4/2016)... ... , ... Dr. Elyson and Dr. Assili, dentist in Northridge , announce ... removal, a common dental procedure, is performed for many adolescents and young adults today. ... risks of complications. By providing wisdom tooth removal surgery at their office, Dr. Elyson ...
(Date:5/4/2016)... ... 04, 2016 , ... Francesca Loparco, Co-Founder of Queen City Dream Cars, an ... same-day LASIK procedure at Christenbury Eye Center. The entrepreneur struggled with her computer, ... the same day as her in-office consultation and eye exam. Francesca’s eyesight was restored ...
(Date:5/4/2016)... ... May 04, 2016 , ... ... and compact tactical (6.7 inch) dual-light flashlights in models NSP-9842XL and NSR-9844XL ... (average retail starting at $59.95) uses 2 included CR-123 batteries to produce up ...
(Date:5/4/2016)... ... May 04, 2016 , ... Warren L. Smith M.D. , There ... UTIs, have plagued people since the beginning of recorded medical history, and in ... every year. It's not just a matter of inconvenience; bladder infections cost us billions ...
Breaking Medicine News(10 mins):
(Date:5/3/2016)... May 3, 2016   BIOTRONIK , a ... announced Food and Drug Administration (FDA) approval of ... provides heart failure patients with access to diagnostic ... have remote monitoring with daily automatic transmission and ... rate in response to physiological demands. ...
(Date:5/3/2016)... , May 3, 2016 ... pay $55 million to a woman who says its ... court awarded Gloria Ristesund $5 million in ...      (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ) , ... accusations against the company. In February, the same court ...
(Date:5/3/2016)... LLC (Forté) is excited to announce the launch of its Mediceutical line of products, ... for a variety of clinical conditions. Founded in 2013, Forté spent more than two ... Logo -  http://photos.prnewswire.com/prnh/20160502/362547LOGO ... ... ...
Breaking Medicine Technology: