Navigation Links
China-Biotics, Inc. Prices $69 Million Public Offering of Common Stock
Date:9/29/2009

SHANGHAI, Sept. 29 /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 that it has priced a public offering of 4,600,000 shares of its common stock at $15.00 per share. The shares are being sold under the Company's previously filed shelf registration statement, which was declared effective by the Securities and Exchange Commission on September 9, 2009.

The Company expects that the offering will yield net proceeds, before expenses, of approximately $65,550,000 million and intends to use the net proceeds from the sale of the securities for general corporate purposes, including expanding its retail operations, expanding its products, acquiring additional retail outlets and for general working capital purposes. "We are pleased to execute this public offering, and intend to use the proceeds to further enhance and develop our business," said Mr. Jinan Song, Chairman and Chief Executive Officer of China-Biotics.

Roth Capital Partners, LLC, acted as the sole manager of the offering. In connection with the offering the Company also granted the underwriters a 30-day option to purchase up to an additional 690,000 shares to cover over-allotments, if any. The offering is expected to close on or about October 5, 2009.

A prospectus and prospectus supplement related to the offering will be filed with the Securities and Exchange Commission and be available on the SEC's website, http://www.sec.gov . Copies of the prospectus and the prospectus supplement 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 press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes will be made only by means of a private offering memorandum.

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.

    For more information, please contact:

     Lewis Fan, CFO
     China-Biotics, Inc.
     Email: lewisfan@chn-biotics.com
     Web:   http://www.chn-biotics.com

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

SOURCE China-Biotics, Inc.


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. DOR BioPharma Announces Private Equity Financing of $3.85 Million with its Partner Sigma-Tau and Other Institutional Investors
2. OneDotOneLife.org - Saving the Lives of More Than 2 Million Children
3. Pres. Clinton Announces Commitment From Inter-American Development Bank, Global Network for Neglected Tropical Diseases, and Pan American Health Organization to Mobilize $30 Million to Fight NTDs in the Americas at CGI Conference
4. Michael J. Fox Foundation Commits Up to $12 Million for Targeted Parkinsons Therapeutic Development in 2010
5. D-Pharm Raises NIS 85 Million in Rights Offering and Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE)
6. Mars, Incorporated Commits Over $2 Million to Federal Agency for Human-Animal Interaction Research
7. Michael J. Fox Foundation Awards Over $2 Million for Validation of 10 Parkinsons Therapeutic Targets
8. Relievant Medsystems Announces Completion of $20 Million Financing
9. MJFFs Rapid Response Innovation Awards Hit Mid-2009 With Over $1 Million Funded in High-Risk/High-Reward Approaches to Parkinsons Disease
10. Transave Receives $2.2 Million Cystic Fibrosis Foundation Award for Development of ARIKACE(TM)
11. Great Basin Scientific, Inc. Raises $3.6 Million in Bridge Funding to Prepare for Launch of First Product
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)...  Hologic, Inc. (Nasdaq: HOLX ) ... fiscal second quarter ended March 26, 2016.  GAAP ... 41.2%, and non-GAAP diluted EPS of $0.47 increased ... a reported basis, and 6.3% on a constant ... good quarter, highlighted by 14.6% growth in non-GAAP ...
(Date:4/27/2016)... Italy , April 27, 2016 ... linear accelerator (MR-linac) platform will be the focal point ... meeting of the European Society for Radiotherapy & Oncology, ... Elekta,s MR-linac integrates a state-of-the-art radiotherapy system and a ... physician to clearly see the patient,s anatomy in real ...
(Date:4/27/2016)... 27, 2016  Bayer Animal Health today announced ... the University of Florida College of Veterinary Medicine, ... in Communication Award (BECA). Brittany was selected from ... a total of $70,000 in scholarship funds through ... Bayer has provided a total of $232,500 in ...
Breaking Medicine Technology:
(Date:5/2/2016)... Ventura, CA (PRWEB) , ... May 02, 2016 ... ... now offering regenerative therapy, which includes amniotic fluid/“stem cells” and Platelet Rich Plasma ... professional athletes and celebrities,” said Dr. James Baranski, D.C., of Advanced Spine & ...
(Date:5/1/2016)... , ... May 01, 2016 , ... ... http://www.womensexcellence.com that gives new mothers a better understanding of what to expect ... call, · Adjusting to baby postpartum, · The blues and depression, · Breastfeeding ...
(Date:5/1/2016)... CA (PRWEB) , ... May 01, 2016 , ... Good ... those in need of chiropractic help. The agency offers a verity of health, life ... chiropractic need. According to Chris Nelson at the firm, “Many insurance plans don’t cover ...
(Date:4/30/2016)... ... 30, 2016 , ... Powerful tools of hypnosis, hypnotherapy ... What is hypnosis and hypnotherapy and why after centuries, it is now ... (chronic and acute), birthing processes and medical procedures, depression, anxiety, fear reactions, anxiety ...
(Date:4/30/2016)... Montego Bay, Jamaica (PRWEB) , ... April 30, ... ... Caribbean University, and Duane Boise, President and CEO of EMED, today signed a ... in Jamaica. , EMED and the Northern Caribbean University Department of Natural and ...
Breaking Medicine News(10 mins):