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:8/2/2017)... Aug. 2, 2017  Life Flight Network and PeaceHealth Oregon ... improves patient care and operational efficiency for patients at hospitals ... , Cottage Grove , and ... PeaceHealth and Life Flight Network work collaboratively to move patients ... or when a time sensitive emergency exists. ...
(Date:8/1/2017)... , Aug. 1, 2017   CerSci Therapeutics , ... Dallas, Texas , has received notice from the ... Institutes of Health (NIH) that it has been awarded ... totaling over $650,000 in 2017 with an additional $1,000,000 ... Investigational New Drug application of their lead non-opioid drug ...
(Date:7/31/2017)... Three Tru-D SmartUVC robots have arrived at Brian ... . Tru-D, short for "Total Room Ultraviolet Disinfection," is a 5-foot-5 germ-killing ... services (ES) professional cleans the area with traditional cleaning protocols. ... Tru-D fights germs at Army ... "Although the BAACH has a very low infection ...
Breaking Medicine Technology:
(Date:8/17/2017)... ... August 17, 2017 , ... Aeroflow Healthcare today ... recognizing America’s fastest growing private companies. Inc. magazine ranked Aeroflow Healthcare #2450 on ... , The Inc. 5000 represents the most comprehensive study of American ...
(Date:8/17/2017)... ... August 17, 2017 , ... SeQuel Response announced ... multichannel growth agency among the fastest-growing private companies in the U.S., putting it in ... companies that have applied to the Inc. 5000 over the years, only ...
(Date:8/17/2017)... ... August 17, 2017 , ... With the introduction of new ... a number of changes to the smartwatch market. As of June 2017, nearly nine ... from the six months prior. Additionally, according to latest WEAR Report Industry Overview and ...
(Date:8/17/2017)... ... August 17, 2017 , ... Inc. Magazine Unveils 36th Annual List ... with Three-Year Sales Growth of 3,004.8% , NEW YORK, August 16, 2017 – Inc. ... most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique ...
(Date:8/17/2017)... ... August 17, 2017 , ... Advice Media, the industry leader in digital marketing for medical practices, ... and has been included in the Inc. 5000 for the second time in two years. ... in the Inc. 5000 rankings for the second year in a row. It’s extremely difficult ...
Breaking Medicine News(10 mins):