China Biologic Prices Stock Offering

(RTTNews) - China Biologic Products, Inc. (CBPO) said Friday that it has priced a follow-on offering of 1.55 million 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 plans to use the proceeds from the offering mainly 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.