China In-Focus: China-Biotics Sells 4.6 Million Common Shares
October 6, 2009 (FinancialWire) — China-Biotics, Inc. (NASDAQ: CHBT) has sold 4.6 million shares of its common stock at $15 per share in a public offering, resulting in around $65.5 million in net proceeds. Roth Capital Partners, LLC, acted as the sole manager.
The company plans to use the net proceeds for general corporate purposes, including expanding its retail operations, expanding its products, acquiring additional retail outlets and for general working capital purposes.
Shanghai, China-based China-Biotics is a manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements.
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