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Sinovac Announces Plan to Launch Offering of Common Shares
Date:1/20/2010

BEIJING, Jan. 20 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. ( SVA), a leading China-based vaccine manufacturer, today announced that it plans to sell, subject to market and other conditions, 8,650,000 common shares of the company in an underwritten public offering. Sinovac plans to grant the underwriters an option to purchase up to an additional 1,297,500 common shares to cover overallotments.

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. will serve as joint bookrunners for the offering.

This offering will be made under Sinovac's currently effective shelf registration statement on Form F-3 filed with the Securities and Exchange Commission on November 18, 2009. 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 preliminary prospectus supplement and the accompanying prospectus may be obtained from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone: 1-877-827- 6444 ext. 561-3884, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis MN'/>"/>

SOURCE Sinovac Biotech Ltd.
Copyright©2010 PR Newswire.
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