China-Biotics, Inc.
China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements. Its proprietary product portfolio contains live microbial nutritional supplements under the "Shining" brand. China-Biotics plans to launch 300 Shining brand retail outlets in major cities in China.
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China-Biotics prices US$69m public offering of common stock
China-Biotics, Inc. (Nasdaq:CHBT) yesterday announced 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 offering is expected to close on or about October 5, 2009.
The Company expects that the offering will yield net proceeds, before expenses, of approximately US$65.6m 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.
Other China-Biotics, Inc. news
- China-Biotics Completes Phase 1 Production Upgrade
2009-10-28 - China-Biotics applies for four patents on probiotic formulations
2009-08-01
