China-Biotics, Inc. Announces Closing of Public Offering of Co...( SHANGHAI China Oct. 5 Asia-FirstC...),Health

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
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