Jun 27 2014
China Biologic Products, Inc. (NASDAQ: CBPO, "China Biologic" or the "Company"), a leading plasma-based biopharmaceutical company in China, today announced the pricing of a follow-on offering of 1,550,000 shares of common stock at a public offering price of $38.00 per share. The Company will be offering 800,000 shares and a selling stockholder will be offering 750,000 shares of common stock. In addition, the underwriters have a 30-day option to purchase up to 120,000 additional shares of common stock from the Company and 112,500 additional shares of common stock from the selling stockholder.
The Company intends to use the proceeds from the offering primarily for general corporate purposes. In addition, if appropriate opportunities arise in the future to acquire or invest in complementary businesses, products or technologies, the Company may use a portion of the net proceeds for such acquisition or investment. The Company will not receive any proceeds from the sale of shares by the selling stockholder.
Morgan Stanley & Co. International plc is acting as the sole book-running manager for the offering and Aegis Capital Corp. is acting as a co-manager.
Source:
China Biologic Products, Inc.